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

Renaissance Africa Energy is thrilled to announce the signing of a historic agreement with Shell for the acquisition of Shell’s entire shareholding in The Shell Petroleum Development Company of Nigeria Limited (SPDC).

Renaissance, a consortium comprising ND Western Limited, Aradel Holdings Plc., the Petrolin Group, FIRST Exploration and Petroleum Development Company Limited, and the Waltersmith Group, is set to take on this significant transaction.

This acquisition represents a pivotal moment for Renaissance, solidifying its strategic presence in the Nigerian market.

The consortium expresses a strong commitment to ensuring a seamless transition and is eager to leverage its expertise, collaborating with SPDC’s industry-leading staff and working in conjunction with all stakeholders in the SPDC-JV.

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The overarching goal is to drive sustained growth and success in Nigeria and beyond.

However, it’s important to note that the completion of the transaction is contingent upon obtaining the necessary regulatory approvals.