TotalEnergies signs $1.8bn GIP partnership for African oil and gas assets

Offshore Technology·21 Sep 2026·

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M&A · Partnership Commodity Corporate Action Oil, Gas & Consumable Fuels

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Summary · why it matters

TotalEnergies has entered into a partnership agreement with Global Infrastructure Partners, part of BlackRock, covering its interests in certain oil and gas infrastructure assets in Africa. Under the deal, GIP will make a capital contribution of $1.8bn, and in return TotalEnergies will pay GIP a throughput-based tariff for up to 15 years. TotalEnergies chief financial officer Jean-Pierre Sbraire said the agreement crystallises the value of some of the company's midstream infrastructure assets in Africa, and the specific assets involved have not been disclosed. Separately, TotalEnergies announced the Acacia-5 oil discovery in Block 17 offshore Angola, which it plans to fast-track on-stream just three months after the June 2026 discovery, adding around 6,000 barrels per day to Block 17 production by using spare capacity at the Pazflor floating production, storage and offloading facility. TotalEnergies operates Block 17 with a 38% interest alongside Equinor at 22.16%, ExxonMobil at 19%, Azule Energy at 15.84% and Sonangol E&P at 5%, and it has also signed agreements with Angola's petroleum regulator ANPG to acquire a 40% operated interest in two new exploration blocks in the Lower Congo Basin, Blocks 17/25 and 32/21, plus a February 2026 heads of agreement with ANPG and ExxonMobil for a 35% interest in Benguela Basin blocks 40, 41, 42 and 58. In a separate development, Venezuelan acting president Delcy Rodriguez attended the signing of an energy cooperation agreement between state oil company PDVSA and TotalEnergies E&P New Ventures, signed by PDVSA president Hector Obregon and TotalEnergies America senior vice-president Francisco Javier Rielo at the Miraflores Palace in Caracas, with further terms not disclosed.

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