• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, August 9, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Aradel Energy Acquires TotalEnergies, NNPC Assets To Boost Marginal Field

by Chika Izuora
11 months ago
in News
aradel energy
Share on WhatsAppShare on FacebookShare on XTelegram

Aradel Energy Limited has stepped up asset purchases by acquiring 100 per cent interest in the Olo and Olo West marginal fields from TotalEnergies EP Nigeria Limited and the Nigerian National Petroleum Company Limited (NNPC).

Advertisement

This, it said, was to boost its production portfolio in Nigeria’s marginal field space.

Aradel Holdings Plc said the acquisition was completed for a consideration of $16 million, plus $3.5 million of deferred and conditional payments.

The Olo and Olo West marginal fields are located within former oil mining lease (OML) 58, in the Eastern Niger Delta, 80 kilometres northwest of Port Harcourt, Rivers State.
The Nigerian integrated energy company said the Petroleum Mining Lease (PML) for Olo and Petroleum Prospecting License (PPL) for Olo West would be issued after the payment of relevant ministerial consent fees and completion of approved Field Development Plans (FDPs) within designated timeframes.

According to the company’s statement, the addition of Olo and Olo West Marginal fields to Aradel’s portfolio of assets is a significant inorganic growth milestone in furtherance of the company’s vision and long-term strategy to provide sustainable energy solutions that support economic growth.
Commenting on the announcement, Aradel’s MD/CEO, Adegbite Falade said: “The acquisition of Olo and Olo West Marginal Fields are a major step in our journey of promoting energy security in Nigeria through organic and inorganic growth.

RELATED

Popular Kannywood Actress Rahma Sadau Ties Nuptial Knot With Spouse

Popular Kannywood Actress Rahma Sadau Ties Nuptial Knot With Spouse

20 seconds ago
Kano Governor Begins Probe Of Ganduje

Kano Gov Sacks 2 Aides Over Drug Baron’s Bail, Palliative Diversion

1 hour ago

“We want to commend the unwavering commitment of the Ministers of Petroleum Resources, and our regulator – the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in supporting this acquisition, within the framework of the Petroleum Industry Act (PIA). We also want to commend the NNPC and TotalEnergies for their commitment to grow Nigeria’s oil and gas production, even from marginal fields.”

Aradel operates through its subsidiaries and an affiliate company, Aradel Energy Limited (100 per cent), a wholly owned subsidiary of Aradel Holdings, as well as the Operator of the Ogbele and Omerelu Fields; Aradel Gas Limited (100 per cent), a wholly owned subsidiary established to pursue investment opportunities in the gas sector.

The group also has Aradel Investments Limited (100 per cent), also a wholly owned subsidiary established to hold and manage the group’s non-oil and gas assets; Aradel Refineries Limited (95 per cent), an independent operating midstream entity, underscoring its commitment to attaining energy independence in Nigeria.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




Tags: Aradel Holdings
SendShareTweetShare
Previous Post

Nigerian Breweries Targets N599.1bn Funds From Rights Issue

Next Post

‘Low Interest Rates Crucial For Capital Deployment, Shared Prosperity’

Chika Izuora

Chika Izuora

You May Like

Popular Kannywood Actress Rahma Sadau Ties Nuptial Knot With Spouse
News

Popular Kannywood Actress Rahma Sadau Ties Nuptial Knot With Spouse

2025/08/09
Kano Governor Begins Probe Of Ganduje
News

Kano Gov Sacks 2 Aides Over Drug Baron’s Bail, Palliative Diversion

2025/08/09
JUST-IN: Professor Adamu Appointed New Acting VC Of Yakubu Gowon Varsity
Education

JUST-IN: Professor Adamu Appointed New Acting VC Of Yakubu Gowon Varsity

2025/08/09
Adewole, Azuike Emerge Winners Of Cowbellpedia Quiz Competition
News

Adewole, Azuike Emerge Winners Of Cowbellpedia Quiz Competition

2025/08/09
Ex-Gov Daniel Raises Alarm Over Quit, Demolition Notices On Properties In Ogun
News

Ex-Gov Daniel Raises Alarm Over Quit, Demolition Notices On Properties In Ogun

2025/08/09
Niger Nationalises Sole Industrial Goldmine, Accuses Australian Operator Of ‘Breaches’
News

Niger Nationalises Sole Industrial Goldmine, Accuses Australian Operator Of ‘Breaches’

2025/08/09
Leadership Conference advertisement

LATEST

Popular Kannywood Actress Rahma Sadau Ties Nuptial Knot With Spouse

Kano Gov Sacks 2 Aides Over Drug Baron’s Bail, Palliative Diversion

JUST-IN: Professor Adamu Appointed New Acting VC Of Yakubu Gowon Varsity

Adewole, Azuike Emerge Winners Of Cowbellpedia Quiz Competition

Ex-Gov Daniel Raises Alarm Over Quit, Demolition Notices On Properties In Ogun

Niger Nationalises Sole Industrial Goldmine, Accuses Australian Operator Of ‘Breaches’

BREAKING: Ex-PDP Chairman Audu Ogbeh Dies At 78

FIFA U-20 WWCQ: Falconets Head Coach Invites 35 Players For Rwanda Clash

NANPF Appoints CSP Chijioke As Director Of Players’ Safety And Security

NPFL Youth League: Remo Stars, Ikorodu City pick Ikenne Zone Tickets

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.