Aradel Holdings Plc (formerly NDEP), one of Nigeria’s major integrated indigenous energy Companies, listed on the NASD Exchange and the FMDQ, has confirmed its acquisition through Aradel Energy Limited of an equity interest in Shell Petroleum Development Company (SPDC) Limited, Nigeria.
According to the company, this acquisition is premised on the signing of a landmark transaction between Renaissance Africa Energy Company Limited, and Shell International PLC to acquire its 100 percent shareholding in the SPDC. Read more
Laser Light Companies and WIOCC, Africa’s digital backbone, have signed a five-year $129 million (USD) master services agreement. As part of the terms, Laser Light will contract with WIOCC for capacity on terrestrial and subsea cables in and around Africa and support services. In turn, WIOCC will use Laser Light for its global connectivity needs beyond its current network footprint and bring the Laser Light service portfolio to its African clients.
The agreement will commence upon initial operations of the Laser Light networking platform expected to begin at the end of 2023 with Africa being part of its Beta Program roll-out in partnership with Nokia announced in June.
Niger Delta Exploration & Production Plc (NDEP), a fully integrated energy company with interests in multiple oil and gas assets, has recently announced its rebranding as Aradel Holdings to better reflect its long-term strategy of becoming Africa’s leading organization in the delivery of sustainable energy solutions that support economic growth. The unveiling of the new brand identity took place on Friday, 4th August 2023, at an exclusive grand launch event.