Shell completes sale of SPDC to Renaissance
Gas

Shell completes sale of SPDC to Renaissance

Shell to focus its portfolio in Nigeria on deepwater and integrated gas positions

  • By ICN Bureau | March 18, 2025

Shell has completed the sale of The Shell Petroleum Development Company of Nigeria Limited (SPDC) to Renaissance, as announced 16 January 2024

The divestment of SPDC aligns with Shell’s intent to simplify its presence in Nigeria through an exit of onshore oil production in the Niger Delta and a focus of future disciplined investment in its Deepwater and Integrated Gas positions.

Renaissance now controls SPDC’s 30% stake in the SPDC JV, an unincorporated joint venture with the government-owned Nigerian National Petroleum Corporation (55%), Total Exploration and Production Nigeria Ltd (10%) and Agip Energy and Natural Resources (Nigeria) Limited (5%).

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