The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has overseen the formal handover of the OLO Oilfield Host Community Development Trust (HCDT) from TotalEnergies to Aradel Holdings Plc, marking a significant milestone in the implementation of the Petroleum Industry Act (PIA).
Eniola Akinkuotu, the regulator’s head of media and strategic communications, in a statement, said the ceremony, held at NUPRC headquarters in Abuja on Friday, brought together senior officials from the Commission, TotalEnergies, Aradel Holdings, and OLO host community representatives.
The OLO HCDT was established in line with the PIA’s mandate requiring operators to contribute 3 per cent of their operating expenditure of the previous year toward host community development.
Between 2023 and 2025, according to the statement, the trust has enabled the completion of more than 100 community projects, spanning water supply, electricity, road infrastructure, education, and healthcare with a further 40 projects currently ongoing.
Taken together, it said these initiatives have directly improved the lives of over 25,000 residents across the host communities.
TotalEnergies had earlier operated the Olo/Olo West Marginal field within the former OML 58, in the Eastern Niger Delta until it was acquired by Aradel Holdings.
According to NUPRC, the transfer of settlor responsibilities for the OLO HCDT from TotalEnergies to Aradel is therefore a natural and legally required step.
“TotalEnergies confirmed that all obligations up to the date of transfer have been fully met, and no outstanding liabilities remain.
“Aradel formally assumes full responsibility going forward, with the commission’s regulatory consent granted,” the NUPRC said.
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Speaking at the ceremony, the Commission Chief Executive of NUPRC, Oritsemeyiwa Eyesan, said the Olo Oil Field Host Community Development Trust remains intact, its governance structure preserved and its statutory funding obligations transitioning seamlessly to the new settlor as envisioned by the PIA.
Ms Eyesan, represented by the Executive Commissioner, for Health, Safety, Environment, and Community (HSEC), Captain John Tonlagha, maintained that “the commission will continue to provide firm and consistent oversight to ensure full compliance with the PIA for the benefit of both the communities and the industry.”
Also speaking, General Manager, Community Affairs, Projects and Development at TotalEnergies, Dornu Kogam, encouraged Aradel Holdings to maintain the same transparent, community-centered approach throughout project completion.
In his remarks, the Community Affairs Manager, Aradel Holdings Plc, Blessyn Okpowo, affirmed the company’s commitment to honouring all PIA obligations and continuing Total Energies’ community engagement approach.
“We want to say that in line with the PIA, we will honour commitments and duties required of the settlor and we want to work very smoothly with the way TotalEnergies has worked with them,” he said.
