Renaissance Africa Energy has officially completed the acquisition of Shell Petroleum Development Company of Nigeria (SPDC), taking full ownership.
This follows the signing of a sale and purchase agreement in January 2024 and the approval of all necessary regulatory requirements. SPDC will now be renamed Renaissance Africa Energy Company Limited.
Tony Attah, CEO of Renaissance, expressed pride in the acquisition, emphasizing the company’s vision of becoming Africa’s leading oil and gas firm.
He thanked the Nigerian government and relevant regulatory bodies for their support, which has paved the way for further development of Nigeria’s oil and gas resources, in line with the Petroleum Industry Act.
The group is focused on contributing to Nigeria’s energy security and industrialization.
News edited by Peace Araga