Oil and gaz

16 Jan. 2024 // Oil and gaz

Renaissance Africa Energy acquires Shell Petroleum Development Company Ltd of Nigeria Limited

We are pleased to announce the signing of a landmark transaction with Shell International PLC to acquire its entire shareholding in the Shell Petroleum Development Company of Nigeria Limited (SPDC).

Renaissance is a consortium consisting of ND Western Limited, Aradel Holdings Plc, the Petrolin Group, FIRS Exploration and Petroleum Development Company Limited and the Waltersmith Group, each with demonstrable and proven operational capabilities. 

This acquisition marks a significant milestone for Renaissance, establishing its strategic position in the Nigerian market. We are committed to ensuring a smooth transition and look forward to leveraging our expertise in partnership with SPDC's industry-leading staff and to working in partnership with all the stakeholders in the SPDC-JV to drive continued growth and success in Nigeria and beyond.

Completion of the transaction is subject to the requisite regulatory approvals. (www.Raecafrica.com)