TotalEnergies hands over OLO host community trust to Aradel
CHIGOZIE AMADI
In a significant step in implementing the Petroleum Industry Act (PIA) and demonstrating the Commission’s dedication to safeguarding host community interests during operator transitions,
the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has overseen the official transfer of the OLO Oilfield Host Community Development Trust (HCDT) from TotalEnergies to Aradel Holdings Plc.
The handover ceremony, held at NUPRC headquarters in Abuja, was attended by senior officials from NUPRC, TotalEnergies, Aradel Holdings, and OLO host community representatives, formalizing the transfer of settlor responsibilities to ensure uninterrupted community development projects.
Established under the PIA, the OLO HCDT requires operators to contribute 3% of their previous year’s operating expenditure to host community development.
The trust has completed over 100 community projects (2023-2025), including water supply, electricity, roads, education, and healthcare, with 40 more projects ongoing.
These efforts have collectively enhanced the lives of over 25,000 people in the host communities. TotalEnergies previously operated the Olo/Olo West Marginal field in the former OML 58, Eastern Niger Delta, until Aradel Holdings acquired it.
The transfer of settlor responsibilities for the OLO HCDT to Aradel is a necessary step, with TotalEnergies confirming all obligations are settled up to the transfer date.
Aradel assumes full responsibility, with NUPRC’s regulatory approval granted.
NUPRC CEO, Mrs. Oritsemeyiwa Eyesan, represented by Executive Commissioner Captain John Tonlagha, stated the OLO HCDT remains intact, with its governance structure and funding obligations transitioning smoothly to Aradel as per the PIA.
NUPRC will ensure compliance with the PIA for community and industry benefit.
“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.”
On his part, TotalEnergies’ Dornu Kogam encouraged Aradel to maintain a transparent, community-focused approach.
Aslo speaking, Aradel’s Blessyn Okpowo affirmed commitment to PIA obligations and continuing TotalEnergies’ community engagement.
“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 stated.
OLO host community Board of Trustees Chairman, Wale Godwin, praised the HCDT’s 118 completed projects out of 160 planned, acknowledging NUPRC’s regulatory role.
