The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has presided over the formal handover of the OLO Oilfield Host Community Development Trust (HCDT) from TotalEnergies to Aradel Holdings Plc, marking a milestone in the implementation of the Petroleum Industry Act (PIA) and the Commission’s commitment to protecting host community interests during operator transitions.

TotalEnergies operated the Olo/Olo West Marginal field within the former OML 58, in the Eastern Niger Delta, before its acquisition by Aradel Holdings. OLO HCDT was established in line with the PIA’s mandate requiring operators to contribute 3% of their operating expenditure of the previous year toward host community development.

Between 2023 and 2025, the trust completed more than 100 community projects, namely water supply, electricity, road infrastructure, education, and healthcare, with a further 40 projects currently ongoing. Taken together, these initiatives have directly improved the lives of over 25,000 residents across the host communities.

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.

Speaking at the ceremony, the Commission Chief Executive of NUPRC, Mrs. Oritsemeyiwa Eyesan, who was represented by the Executive Commissioner, for Health, Safety, Environment, and Community (HSEC), Captain John Tonlagha, 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.