NUPRC Transfers OLO Oilfield Obligation to Aradel Hold

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) oversaw the formal transfer of the OLO oilfield host community obligation from TotalEnergies to Aradel Hold PLC. This transition, marked by a ceremony at NUPRC headquarters in Abuja, aims to protect the interests of the host community during operations.

The OLO Host Community Development Trust (HCDT) will continue its work without interruption, having already initiated community development projects. Under the Petroleum Industry Act (PIA), TotalEnergies previously operated the OLO oilfield within the former OML 58 in the Eastern Niger Delta.

The trust is set to complete 100 community projects, including water supply, electricity, road infrastructure, education, and healthcare, benefiting approximately 25,000 residents. TotalEnergies confirmed that all obligations related to the transfer were met, with no outstanding liabilities.

The NUPRC will maintain oversight to ensure compliance with the PIA, while Aradel Hold PLC committed to a transparent, community-centered approach throughout the project.