ND Western is pleased to announce completion of the successful acquisition of Shell Petroleum
Development Company (SPDC) by Renaissance Africa Energy Company , a consortium
comprising four leading Nigerian independent energy companies—ND Western Limited, Aradel
Holdings Plc, FIRST Exploration and Petroleum Development Company Limited, Waltersmith
Group and an international energy company – Petrolin Group.
This $2.4 billion landmark acquisition marks a significant milestone in Nigeria’s energy sector,
reinforcing the capacity of indigenous companies to develop the nation’s hydrocarbon resources
sustainably. With this acquisition, Renaissance is set to enhance Nigeria’s energy security, driving
industrial and economic growth, creating jobs, and boosting local capacity development.
Commenting on the acquisition, Mr. Lanre Kalejaiye, Chief Executive Officer of ND Western
Limited, said: “This represents a defining moment for Nigeria’s oil and gas industry. As a partner
in Renaissance Africa Energy Company, ND Western is committed to leveraging our technical
and operational expertise and experience to sustain and grow production from the Renaissance assets.
We look forward to working with our consortium partners to deliver sustainable energy
solutions that will contribute to Nigeria’s economic prosperity.”
With this acquisition, Renaissance Africa Energy Company establishes its position as a key
player in Nigeria’s upstream sector. The consortium is made up of key industry leaders with an
extensive record of operational expertise in exploration and production in the Nigerian energy
sector.
