Our History
Solid track record of growth and transformation
Driven by purpose, built on experience
Founded on the belief that ordinary Nigerians should have the opportunity to participate in and benefit from the oil and gas sector, Aradel has grown from a into a investment vehicle to a leading integrated oil and gas company, operating in upstream, midstream, and downstream sectors. Its history reflects a long-standing commitment to local capital, local expertise, and integrated growth across Nigeria’s energy landscape.
History Timeline
Foundation as Midas Drilling Fund
Incorporation of Midas Drilling Fund.
Transition to NDEP
Renamed to Niger Delta Exploration & Production Company(NDEP) to reflect its focus on the Niger Delta region.
First Farm-Out Agreement
Negotiated the first ever farm-out agreement with the NNPC/Chevron JV for a Marginal Oil Field in Nigeria.
Established Nigeria's First Host Community Development Trust
Established Nigeria's first Host Community Development Trust.
First Oil at Ogbele Field
Attained first oil at the Ogbele Field.
First Mini Refinery Commissioned
Commissioned the first mini refinery at the Ogbele Field (with name plate capacity of 1,000 bbls/d).
OML 34 Consortium Acquisition
Led a consortium to acquire the 45% equity interests divested by Shell Petroleum Development Company, Total, and Nigeria Agip Oil Company in OML 34.
Ogbele Gas Processing Plant
Commissioned the Ogbele Gas Processing Plant (the first by an indigenous company, and with a name plate capacity of 100MMscf/d).
South Sudan Strategic Partnership MOU
Executed an MOU to establish a Strategic Partnership with the South Sudan State National Oil Company.
Global Gas Flare Reduction Excellence Award
The Ogbele Gas Project won the 2015 Global Gas Flare Reduction Excellence Award issued by the Global Gas Flare Reduction (GGFR) Forum, an arm of the World Bank.
Refinery Train II Commissioned
Commissioned Train II of the Refinery, taking total installed refining capacity to 6,000 bbls/d.
Refinery Train III — 11,000 bbls/d
Successfully introduced hydrocarbon into Train III of the Refinery, increasing capacity to 11,000 bbls/d.
30-Year Anniversary
Aradel Holdings attained its 30-year anniversary of its incorporation.
Only Non-NLNG Partner Supplying Gas to NLNG
Aradel Holdings is the only non-NLNG partner to supply gas to NLNG.
16 Million Manhours Zero LTI & ISO 14001:2015
Attained over 16 million manhours with zero Lost Time Incident (LTI) and earned the ISO 14001:2015 Edition certification, which governs Environmental Management Systems.
Name Change to Aradel Holdings Plc
Name change to Aradel Holdings Plc.
Listing on the Nigerian Exchange
Listed via introduction on the Main Board of the Nigerian Exchange Limited.
First Oil in Omerelu Field
Attained first oil in Omerelu Field.
Expansion into Olo and Olo West
Acquired Olo and Olo West Fields.
Investment in Chappal Energies
Acquired 6.01% equity in Chappal Energies.
Entry into SPDC Onshore Assets
Acquired 33.3% (12.5% direct stake and 20.8% through ND Western) equity holding in the onshore assets of Shell Petroleum Development Company of Nigeria (SPDC) through Renaissance Africa Energy Holdings
Increased Stake in ND Western
Acquired additional 40% equity interest in ND Western Limited (“NDW”). Upon completion on 31 December 2025, Aradel’s shareholding increased to 81.67%, significantly enhancing Aradel’s upstream asset exposure, operational scale, and consolidated production and reserves profile.
ISO 45001:2018 Certification
Attained ISO 45001:2018 certification for its Occupational Health and Safety Management System.
