By Christie U. Omonigho
- Our major preoccupation now is to strengthen our deepwater and integrated gas operations in Nigeria.
From London is Shell’s announcement that it has rounded off sale of SPDC, (The Shell Petroleum Development Company of Nigeria Limited, rechristening it “Renaissance” Africa Energy Holdings. The acquisition was consequent upon purchase of the SPDC’s entire stake by Renaissance, as was announced on March 13 2025.
Shell says that the divestment was in line with its intent to simplify its presence in Nigeria through an exit of onshore oil production in the Niger Delta and a focus of future disciplined investment in its Deepwater and Integrated Gas positions.
Energy Window International has gathered that Renaissance would be in charge of SPDC’s 30% stake in the Company’s JV, an unincorporated joint venture with the government-owned Nigerian National Petroleum Corporation (55%), Total Exploration and Production Nigeria Ltd (10%) and Agip Energy and Natural Resources (Nigeria) Limited (5%).
Energy Window International has also gathered that Renaissance Africa Energy Holdings is a make-up of four successful Nigerian independent oil and gas companies namely, ND Western Limited, Aradel Holdings Plc. FIRST Exploration and Petroleum Development Company Limited and Waltersmith Group, all of which are known for their expertise and operational competences in the Niger Delta. Petrolin which is not left out, and described as an international energy company, is reported to have sufficient global trading experience, with a pan African outlook.
We and our shareholder companies are therefore pleased that the Federal Government has given the green light for this milestone acquisition in line with the provisions of the Petroleum Industry Act”, says the Managing Director and CEO of Renaissance – Tony Attah who also said: “We extend our appreciation to the Honorable Minister of Petroleum Resources, and the CEO of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) and the GCE0 of Nigeria National Petroleum Company Limited (NNPCL) for their foresight and belief, paving the way for the rapid development of Nigeria’s vast oil and gas resources as strategic accelerator for the country’s industrial development”.
“We are extremely proud to have completed this strategic acquisition. The Renaissance vision is to be Africa’s leading Oil and Gas Company, enabling
energy security and industrialization in a sustainable manner.”