Renaissance Africa Energy Holdings has officially completed its landmark acquisition of Shell Petroleum Development Company of Nigeria (SPDC), taking over the entire 100% equity stake from Shell. The deal, initially signed in January 2024, received all necessary regulatory approvals, paving the way for the transition.

Following the acquisition, SPDC will be rebranded as Renaissance Africa Energy Company Limited, marking a new chapter in Nigeria’s oil and gas industry.

Renaissance Africa Energy Holdings is a consortium of four prominent Nigerian independent oil and gas companies—ND Western Limited, Aradel Holdings Plc, FIRST Exploration and Petroleum Development Company Limited, and the Waltersmith Group—alongside Petrolin, an international energy company with a strong pan-African focus.

Speaking on the milestone, Tony Attah, Managing Director/CEO of Renaissance, expressed excitement about the acquisition:

“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 industrialisation in a sustainable manner.”

He also thanked the Federal Government, the Minister of Petroleum Resources, the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian National Petroleum Company Limited (NNPCL) for their support in making the acquisition possible under the Petroleum Industry Act.