TotalEnergies has signed a partnership agreement with BlackRock’s Global Infrastructure Partners, under which GIP will contribute $1.8 billion in capital to some of the French major’s oil and gas infrastructure assets in Africa, the company said on Friday.
In return for the $1.8 billion contribution, TotalEnergies will pay GIP a tariff for up to 15 years, based on the throughput of the assets involved.
TotalEnergies did not disclose which specific oil and gas infrastructure assets in Africa are covered by the agreement.
“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,” TotalEnergies chief financial officer Jean-Pierre Sbraire said.
TotalEnergies has recently stepped up its presence in Africa’s oil and gas sector, including investments in Angola, Namibia, and Uganda.
Earlier this month, the company said it had made a new offshore discovery in Angola and acquired operated interests in two new exploration blocks close to existing hubs. According to TotalEnergies, first oil from the Acacia-5 discovery in Block 17 could come just three months after the discovery was made in June 2026.
The company has also expanded its exploration portfolio offshore Namibia, adding acreage north of a block where a major oil discovery was made, as it seeks to increase activity in one of the world’s newest exploration hotspots.
Last year, TotalEnergies signed an agreement with Galp formalizing its operatorship over Namibia’s two largest offshore oil discoveries, Mopane and Venus, through a strategic asset swap that consolidated development control in the hands of the French major.
In Uganda, TotalEnergies and China’s CNOOC are developing the Tilenga and Kingfisher oil fields. Those projects are expected to help the landlocked African country become a crude oil exporter in early 2027 via the $5 billion East African Crude Oil Pipeline (EACOP), which will transport crude from Uganda to Tanzania’s port of Tanga.
