The Nigerian National Petroleum Company Limited (NNPCL) has scored a major legal victory against TotalEnergies EP Nigeria Limited, with an arbitration tribunal on November 19, 2025, ordering the oil giant to pay $285.2 million over excess oil lifting.

The dispute stems from the Amenam/Kpono Carry Agreement dated June 7, 2000, which involved NNPCL’s right to terminate the deal and TotalEnergies’ subsequent entitlement to lift oil.

The arbitration, which began in 2015, examined whether TotalEnergies was entitled to continue lifting oil after NNPCL had fully repaid the associated costs. Sources told The Whistler that NNPCL had completed repayment of the Carry Capital Cost of $697.2 million by December 2007 and also settled the agreed interest of $281 million.

Findings showed that the agreement covered 492 million barrels of shared oil at an assumed price of $17 per barrel. Once repayment was completed, TotalEnergies had no legal right to further oil lifting, prompting NNPCL to file a counterclaim to recover the overlift.

TotalEnergies argued that the Carry Agreement operated like a Production Sharing Contract, where it bore exploration and production risks in exchange for a pre-agreed recovery of shared oil. The tribunal rejected this claim.

Consequently, TotalEnergies was ordered to pay NNPCL $285.2 million, legal costs of $343,191.88, and ₦112,500,000, with the sum to be settled within 14 days.

Following the ruling, TotalEnergies has filed a challenge at the Federal High Court, while NNPCL is seeking recognition and enforcement of the award, signaling that the legal dispute may continue.