The $285 Million Question Between NNPC and TotalEnergies

How often do oil disputes stay quiet for long? Very rarely. The one in mind, the one with the label of “$285 million”, arrived with a court filing, dressed as a number that refuses to be ignored.

This December, NNPC Limited asked a Lagos court to enforce an arbitral ruling against TotalEnergies. The claim centres on the Amenam Kpono offshore field, where Nigeria says too much oil left its waters years after a debt had been settled.

The facts reach back to June 2000. TotalEnergies funded NNPC’s share of developing the field, advancing $697 million. Repayment came through crude oil liftings plus interest. NNPC argues that by late 2007, the account was fully cleared.

What followed was the dispute. NNPC says TotalEnergies continued lifting oil between 2008 and 2014, about 11.8 million barrels. An arbitral tribunal agreed last November, ordering compensation of $285.2 million plus costs.

TotalEnergies rejects the ruling. It calls the process flawed and says the tribunal lacked jurisdiction. The company has gone to the Federal High Court to challenge enforcement, framing the decision as unfair and legally unsound.

Note that only months earlier, NNPC and TotalEnergies signed fresh deepwater contracts for blocks PPL 2000 and 2001. These are the first such awards to an international oil company in over a decade.

Those licences reflect Nigeria’s new oil posture. Deepwater projects now align fully with the Petroleum Industry Act, covering oil and gas together. TotalEnergies holds 80 per cent, and SAPETRO holds the rest. The message is a long-term partnership, backed by clearer rules.

Beyond contracts, there is still collaboration. The Ubeta gas project aims to feed NLNG with 350 million cubic feet daily. Joint assets have hit zero routine gas flaring, whereas methane monitoring now uses TotalEnergies’ AUSEA technology.

At the same time, TotalEnergies is reshaping its portfolio. It has sold non-operated interests like Bonga and doubled down on deepwater assets such as Akpo and Egina. Nigeria is becoming leaner, deeper, and more selective.

This is why the $285 million claim resonates. It signals that legacy deals will be scrutinised even as new ones are signed. Nigeria wants investment, discipline, and memory. The oil future may be offshore, yet the past still collects its dues.