Renaissance Africa Energy to Acquire Shell Petroleum Development Company of Nigeria Limited

Renaissance Africa Energy is pleased to announce the signing of a landmark transaction with Shell 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, FIRST Exploration and Petroleum Development Company Limited and the Waltersmith Group.

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 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.