Monday, September 7, 2026

Total announces plans to exit Nigeria’s onshore oil fields

International companies are thought to be concentrating on deep-water areas in order to avoid the difficulties of operating in close proximity to local inhabitants.

• April 28, 2022
Total
Total

French energy giants Total Energies on Thursday said that it will soon exit Nigeria’s onshore oil field.

The French oil giant announced plans to sell its minority stake in a Nigerian oil joint venture, joining the exodus of supermajors from onshore fields in Africa’s largest crude producer, per Bloomberg report.

Patrick Pouyanne, the CEO of Total Energies, said the French oil giant will sell off its 10 per cent investment in a business that has 20 onshore and shallow water permits in Nigeria. This comes as Shell Plc; the license operator is considering offers from four local companies for its 30 percent ownership in the company.

According to Mr Pouyanne, disruption of local communities is a source of great concern in the country.

For over a decade, oil majors have been selling onshore and shallow water properties to Nigerian independent producers. In February, Exxon Mobil agreed to sell off its Nigerian assets to Seplat Energy Plc for at least $1.28 billion.

International companies are thought to be concentrating on deep-water areas in order to avoid the difficulties of operating in close proximity to local inhabitants.

The oil companies’ increasing disengagement comes at a time when the country is failing to achieve its OPEC quota.

The withdrawal of major oil companies from joint ventures with the Nigerian government is becoming an issue of great concern as Nigeria still relies heavily on oil exploration to fund its economy.

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

farmers

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

New Nigerian Peoples Party (NNPP)

Politics

NDC made mistake choosing Kwankwaso; party doomed to lose 2027 election: NNPP

The NNPP says the NDC is doomed to lose the 2027 presidential election for Rabiu Kwankwaso as its vice-presidential candidate.

Peter Obi with Datti Baba-Ahmed

Heading 2

I’ll improve Nigeria like I did Anambra, Peter Obi replies Datti Baba-Ahmed

“I’ve passed through Anambra State, and I improved the state in critical areas of development. I can do the same thing in Nigeria if given the opportunity,” Mr Obi said.

IMPACT Malaria Project in Ondo State

States

World ‌⁠‍‍⁠⁠‌‍‍⁠⁠‍‌‌Bank  invests N1.5 billion in Ondo malaria intervention

Mr Mensah said the investment covered malaria commodities, healthcare worker training, logistics, and other interventions across the state and its 18 LGAs.

Hafidh Ameir Hassan

Hot news Home top

Tanzanian president Samia Hassan loses husband

Tanzanian Vice President Deogratius Ndejembi announced Mr Hassan’s passing in a video broadcast on Monday.

Gov Adeleke, APC, PDP

Hot news Home top

Osun Election: APC, PDP file petitions challenging Gov Adeleke’s re-election

The APC and PDP have filed petitions before the Osun Governorship Election Petitions Tribunal challenging Governor Ademola Adeleke’s re-election.

Troops

NationWide

Insecurity:‌⁠‍‍⁠⁠‌‍‍‍‌‌ Security agencies conducted 7,062 operations, killed 1,487 terrorists in two months, says ONSA

ONSA says security agencies conducted 7,062 operations, killed 1,487 terrorists and insurgents and rescued 777 kidnap victims nationwide in July and August.