…says HCDT has enabled completion of 100 project in 2years
In pursuit of the Petroleum Industry Act (PIA), TotalEnergies has handed over the OLO Oilfield Host Community Development Trust (HCDT) to Aradel Holdings Plc. This transition follows Aradel’s earlier acquisition of the Olo and Olo West marginal fields (formerly part of OML 58) from the TotalEnergies/NNPCL Joint Venture.
The handover, which took place in Abuja on friday, was presided over by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and formally completes the transfer of settlor responsibilities under the trust, ensuring that community development work already underway continues without interruption.
