Aradel agrees to buy stake in Chappal Energies
Aradel Holdings Plc has entered into an agreement to acquire 5.14% equity interest in Chappal Energies Mauritius Limited.
The announcement of the deal on Wednesday comes few days after Chappal announced the acquisition of Equinor Nigeria Energy Company Limited, which holds a 53.85% ownership in oil and gas lease OML 128, including the unitised 20.21% stake in the Agbami oil field, operated by Chevron.
On July 17, 2024, Chappal and Total Energies announced that they had signed a sale and purchase agreement for the acquisition by Chappal of 10% of the Shell Petroleum Development Company of Nigeria JV.
“The relevant parties to this transaction are working towards closing out the transaction and ministerial approval and NNPC consent to accede to the Joint Operating Agreement have been obtained,” Chappal said in a statement.
