TotalEnergies, BlackRock Ink $1.8B African Oil Assets’ Mega Deals

French energy giant TotalEnergies has struck a massive $1.8 billion infrastructure partnership with BlackRock’s Global Infrastructure Partners, GIP, in a deal that signals huge investor confidence in Africa’s oil and gas future.

Under the agreement signed on Friday, GIP will inject $1.8 billion as capital contribution into some of TotalEnergies’ oil and gas infrastructure assets on the continent.

In return, TotalEnergies will pay GIP a tariff for up to 15 years, based on the throughput of the assets, the company disclosed.

Although TotalEnergies kept the specific assets involved under wraps, the deal is seen as a strategic move to unlock value from its midstream infrastructure across Africa.

“We are pleased to strengthen our relationship with GIP through this infrastructure agreement which crystallizes the value of some of our midstream infrastructure assets in Africa,” said Jean-Pierre Sbraire, Chief Financial Officer of TotalEnergies.

The deal comes as TotalEnergies is aggressively expanding its African footprint, with big bets in Angola, Namibia and Uganda.

Earlier this month, the company announced a new discovery offshore Angola – the Acacia-5 in Block 17 – and revealed that first oil would be achieved just three months after the June 2026 discovery, alongside acquisition of operated interests in two new exploration blocks near existing hubs.

In Namibia, the new global exploration hotspot, TotalEnergies has also grown its offshore acreage north of major discoveries and last year sealed a strategic asset swap with Galp that gave it operatorship over the country’s two largest finds – Mopane and Venus.

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In East Africa, TotalEnergies and China’s CNOOC are racing to make Uganda the world’s newest crude exporter by early 2027 through the $5 billion East African Crude Oil Pipeline, EACOP, which will carry oil from the Tilenga and Kingfisher fields to Tanzania’s port of Tanga.

Analysts say the $1.8 billion GIP investment is a strong vote of confidence that despite global energy transition talks, Africa’s oil and gas infrastructure remains a goldmine for long-term investors.

NOP NIGERIA