Aradel Holdings PLC to Acquire 40% Stake in ND Western from Petrolin, Boosting Presence in Nigeria's Oil and Gas Sector

Aradel Holdings PLC, a wholly-owned subsidiary of Aradel Energy Limited, has entered into a definitive agreement to acquire a 40% equity interest in ND Western Limited from Petrolin Trading Limited. Upon completion of the transaction, Aradel's total shareholding in ND Western will significantly increase to reinforce its strategic position in Nigeria's upstream oil and gas sector.

The deal is subject to necessary regulatory approvals from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Federal Competition and Consumer Protection Commission (FCCPC), and the Ministry. ND Western holds a 45% participating interest in OML 34, a key oil mining lease in the Western Niger Delta.

Additionally, ND Western owns a 50% share capital in Renaissance Africa Energy Company Ltd. Iheanyi Nwachukwu, a seasoned journalist, is involved in the creative content writing for this transaction.