Central to the facility is Aradel’s move to acquire an additional 40% stake in ND Western from Petrolin Trading, lifting its ownership to 81.67% and granting majority control over one of the Niger Delta’s most strategically positioned asset holders. ND Western holds a 45% interest in OML 34 – an established block producing roughly 400–420 million cubic feet of gas per day – and a 50% stake in Renaissance Africa Energy, the entity involved in acquiring Shell’s onshore assets in 2024. Through this consolidation, Aradel’s indirect stake in Renaissance rises above 53%, materially expanding its exposure across upstream production and associated infrastructure.

The facility reflects current trends in African upstream financing. Lenders are favoring consolidation, brownfield optimization and infrastructure-linked production with reliable near-term returns. The structure also signals a broader shift toward corporate-level facilities that give operators flexibility to scale portfolios and accelerate output. In today’s tighter global capital environment, that flexibility is increasingly the difference between stalled resources and bankable growth.

The transaction also highlights Nigeria’s energy transition: as international majors exit onshore and shallow-water positions, domestic producers are assuming a larger role, reviving mature blocks and expanding production. Regulators estimate local companies now account for over half of national crude output, up from 40% a few years ago, aligning with policies promoting local participation and energy sovereignty.

More broadly, Standard Bank’s role underscores the growing influence of African financial institutions. While Western capital is often constrained by energy-transition mandates, regional banks are stepping forward to support assets tied to power generation, industrial demand and export revenue.

This momentum is expected to translate into deals at the Invest in African Energy (IAE) Forum 2026 in Paris this April. Now in its fourth edition, the forum brings together financiers, governments and operators to finalize partnerships and advance projects. Facilities like Aradel’s illustrate how deals are taking shape, with consolidation among local producers, bank-led corporate facilities and transfers of assets from international majors emerging as the main pathways. In this context, the $250 million facility demonstrates that disciplined African operators remain bankable, regional banks can lead complex upstream financing and consolidation is accelerating. As April approaches, the industry’s focus is shifting from whether deals will happen to where the next ones will close.

IAE 2026 is an exclusive forum designed to connect African energy markets with global investors, serving as a key platform for deal-making in the lead-up to African Energy Week. Scheduled for April 22–23, 2026, in Paris, the event will provide delegates with two days of in-depth engagement with industry experts, project developers, investors and policymakers. For more information, visit www.invest-africa-energy.com. To sponsor or register as a delegate, please contact sales@energycapitalpower.com