The Omerelu Field covering an area of 11 square kilometers, is located in OML 53 about 42 kilometres Northwest of Port Harcourt in Rivers State, Nigeria. The Company acquired a 100% stake and operatorship of the Omerelu Field in 2014 from the NNPC/Chevron Joint Venture.
The field secured its Petroleum Prospecting License PPL in 2024.

The Olo field, located at the southeastern edge of PML 65 (formerly OML 58) onshore Nigeria, is bordered to the west, east, and south by Shell’s OML 22 block. The field was discovered in 1988 through an exploratory well, Olo-1, and Olo-West was discovered in June 1989 with the drilling of Olo-West 1 by an International Oil Company (IOC).

The Olo field was subsequently developed by the IOC and was in operation from 1989 until its abandonment in 2010. Production peaked at approximately 7,500 barrels of oil per day (bopd) in the early 1990s but declined rapidly, leading to the field’s near abandonment by 2010.

In April 2024, Aradel acquired the field from the IOC and took full possession by the end of the first quarter of 2025. Aradel immediately initiated a re-entry and redevelopment program aimed at transforming this abandoned asset into a productive resource.

The initiatives included low-cost well entry and recompletion strategies, optimizing perforation intervals, produced water management, flare gas monetization, and gas handling and utilization initiatives. These strategies were carefully curated to align with the company’s philosophies of operational excellence, resource maximization, and sustainable development. Production from the field is expected to commence by the end of Q2 2026.

OPL 227 is located 40 kilometers offshore in the Niger Delta and encompasses an area of 974 square kilometers. The field is bordered to the north by OML 109 and the Ogedeh/Akepo Marginal Fields (OML 90), to the east by OPL 282, to the west by OML 79, and to the south by OML 88. This asset was awarded to a consortium comprising ADDAX Petroleum Limited, Express Petroleum and Gas Company Limited, Petroleum Prospects International Limited, and Aradel. Following Addax Petroleum’s exit from the asset, Aradel was nominated as the operator by the remaining partners, pending approval by the regulatory authorities, which is currently being processed.

To expedite the development of the asset, an extensive review of previous work has been conducted, and plans are on to initiate further exploration activities. The license for OPL 227 was recently renewed in 2024 for an additional three-year period. The discovered Oma and Abara fields contain considerable oil and gas reserves, while the additional 20 prospects are in various stages of maturation and development and hold sizeable volumes of hydrocarbon.

The NNPC holds a 55% participating interest in the asset and is the designated operator. However, the asset is managed jointly by an Asset Management Team (AMT) composed of personnel from both NNPC and ND Western Limited, in which Aradel is the majority shareholder.

OML 34 is situated in the Western Niger Delta, covering an area of approximately 950 square kilometres. In 2012, the Aradel-led consortium, through a special-purpose vehicle, ND Western Limited, successfully acquired the 45% interest held by the Shell/Total/Agip joint venture in the Oil Mining Lease. This acquisition followed a historic signing ceremony with NNPC, Shell, Total, and Agip.

The producing fields within this asset include Utorogu, Ughelli East, Ughelli West, and the Warri River asset, which has recently been revamped and developed into a producing entity. Due to its significant gas reserves and production capacity, OML 34 is of national importance for domestic gas supply for power generation and also plays a critical role in supplying gas to the West African Gas Pipeline (WAGP) for neighbouring countries, including Benin, Togo, and Ghana.

Renaissance Africa Energy Company Limited (“Renaissance”) is a leading integrated energy company committed to advancing energy security and industrialisation across Nigeria and the African continent through sustainable and innovative solutions.

Renaissance Africa Energy Company Limited (“Renaissance”) formerly known as The Shell Petroleum Development Company of Nigeria Limited (SPDC), emerged on March 13, 2025, following the landmark acquisition by a consortium of four (4) Nigerian, and one (1) international companies, namely ND Western Limited; Aradel Energy Limited; Waltersmith Petroleum Development Company Limited; First Exploration and Petroleum Development OML 34 Limited; and Petrolin Trading Limited.

Building on over six decades of operational excellence by SPDC, Renaissance now operates Nigeria’s largest upstream joint venture, transitioning from a legacy brand to a bold, Afrocentric energy leader.

Renaissance is in a joint venture partnership with the Nigerian National Petroleum Company Limited (NNPC), TotalEnergies Limited, and Agip Energy and Natural Resources (Nigeria) Limited (AENR) and manages a robust portfolio of 18 oil mining leases spanning onshore, swamp, and shallow water terrains in the Niger Delta. Renaissance also operates key export infrastructure, including the Bonny and Forcados terminals and the Sea Eagle Floating Production Storage and Offloading (FPSO) vessel, demonstrating its technical depth and adaptability in complex environments. Aradel’s direct and indirect ownership in Renaissance is 53.3%.

Aradel holds a 6.01% equity interest in Chappal Energies Mauritius Limited.

OML 128 is a major Nigerian deepwater oil mining license, located in the central Niger Delta, including the unitised 20.21% stake in the Agbami oil field, containing a 53.85% interest in the 1+ billion barrel Agbami oil field.