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FIRST E&P Celebrates Landmark Transaction as Consortium Led by Renaissance Africa Energy Company Limited Acquires SPDC

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FIRST Exploration and Petroleum Development Company Limited (FIRST E&P) is thrilled to announce its role as a member of the Renaissance consortium in the acquisition of The Shell Petroleum Development Company of Nigeria Limited (SPDC).

In a landmark transaction, the Renaissance consortium which consists of ND Western Limited, Aradel Holdings Plc., the Petrolin Group, FIRST E&P, and the Waltersmith Group, has successfully signed a landmark agreement with Shell to acquire its entire shareholding in SPDC. Completion of the transaction is subject to the requisite regulatory approvals.

This acquisition stands as a significant milestone for Renaissance, solidifying its strategic position in the Nigerian market. As with the entire consortium, FIRST E&P is committed to ensuring a smooth transition and looks forward to leveraging the consortium’s collective expertise, in partnership with SPDC’s industry-leading staff and working in partnership with all the stakeholders in the SPDC-JV to drive continued growth and success in Nigeria and beyond.

Speaking on the acquisition, FIRST E&P’s Managing Director, Ademola Adeyemi-Bero commented “This marks a momentous achievement for us at FIRST E&P, and we are excited about the strategic implications it holds for the energy landscape in Nigeria. Our collaboration as a member of this consortium is testament to the power of cooperation and shared commitment to excellence. We believe that this acquisition not only strengthens our position in the Nigerian market but also sets the stage for transformative growth and innovation in the country’s oil and gas sector.”

The company expresses gratitude to its partners, stakeholders, and regulatory bodies for their support throughout this process.

For Shell International Plc Press Release: Shell agrees to sell Nigerian onshore subsidiary, SPDC

Renaissance Africa Energy Company Limited website: www.raecafrica.com

For further information, please contact:

Olatomiwa Akande-Ayeni

Head, Corporate Communications

FIRST E&P

Tomiwa-ayeni@first-epdc.com

About FIRST E&P

FIRST Exploration and Petroleum Development Company Limited (FIRST E&P) is a leading independent Exploration and Production company with delivery capacity across the upstream oil and gas value chain, including drilling, well completion, well testing, and production operations. Established in 2011, the company officially commenced operations on July 1, 2012, initially focused on the acquisition, exploration, and appraisal of the assets it acquired.

FIRST E&P achieved its first oil production from the Anyala field in OML 83 (a joint venture with NNPC) on October 21, 2020, and the JV recorded its first export lifting on January 10, 2021. The company currently produces over 40,000 bbl/d from this field and remains focused on growing its daily production to 60,000 bbl/d.

With the vision of establishing itself as the most admired independent exploration and production company contributing to the well-being of Nigerians, FIRST E&P aims to set up a shallow offshore-based midstream gas business and that will be fully operational by 2025.

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Juliet Ehimuan

Non-Executive Director

Juliet Ehimuan is Director of Google in West Africa. She was named by Forbes as one of the top 20 power women in Africa, by the London Business School as one of 30 people changing the world; and featured in the BBC Africa Power Women series, and on CNN Innovate Africa.

With over 25 years experience primarily in Technology, Oil & Gas, and New Media industries across Europe, Middle East and Africa; Juliet is a leading voice on Innovation, Transformation, and Leadership. She has received numerous awards for outstanding contribution to the digital landscape in Africa. Under her leadership, the Google team has made a significant impact on local content development, infrastructure deployment, and digital capacity building.

Juliet has degrees from the London Business School, University of Cambridge; and Obafemi Awolowo University, Ile-Ife. She was awarded IT Personality of the Year in 2012 by the Nigeria Computer Society, Digital Personality of the year 2016 by Marketing World; and received a 2015 Titans of Technology award from TechnologyAfrica.

She is a member of the Forbes Coaches Council and recently published 30 Days of
Excellence, a leadership and effectiveness guide.

Daniella Obiesie-Uijlenhoed

Non-Executive Director

Daniella Obiesie-Uijlenhoed is currently a Director & Partner in Danicees FZ, an oil & gas servicing company based in Nigeria & the UAE. She is also on the Board of Directors of FIRST Exploration & Petroleum Development Company Limited, an upstream oil & gas producing company in Nigeria.

Born in Nigeria, Daniella has a Master’s degree in Business Administration & a Post Graduate Diploma in Management from the University of Calabar. She obtained her first degree is from the University of Nigeria Nsukka (UNN) where she graduated with a Bachelor of Arts degree in Mass Communication.

Daniella started work with the banking industry in 1997. Her work experience includes positions in Federal Mortgage Finance, New Nigeria Bank & Zenith Bank PLC which she left at mid-management level to join Shell Nigeria Exploration & Production Company in 2005 as a stakeholder management liaison between SNEPCo and NNPC/NAPIMS on the Bonga South-West project.

She would later move to the Contracting team as Head, Office Services, managing the processing & subsequent approvals through the various team lines for all SNEPCo office contracts in Lagos, Abuja, Port Harcourt, & Warri.

In 2009, Daniella took a hiatus from Shell Nigeria and worked with Oman Oryx Construction Company, UAE as the Head Corporate Services, responsible for handling all permits and stakeholder management engagements between the company and the Ministry of Energy & Minerals in Oman.

Daniella returned to Shell Nigeria in 2012, working within the strategy & portfolio team for SNEPCo office & governance policies Nigeria, until her voluntary exit from the company in 2015 to join her husband at Danicees and focus on her family.

Daniella is passionate about the formal & non-formal development of young people in Nigeria. She has been a Trustee and Director on the Board of the Duke of Edinburgh award for young people in Nigeria since 2018. The parent organization for the award was founded in 1956 in England by the late Prince Philip the 1st Duke of Edinburgh.

Daniella views external relationships as key enabler to corporate success and is a team player dedicated to personal delivery and organizational goals. She is a hands-on, high-energy individual who uses her unique interpersonal skills to generate value for organizations and their stakeholders, balancing the strategic agenda with the requirements for optimal delivery.