In pursuit of the Petroleum Industry Act (PIA), TotalEnergies has handed over the OLO Oilfield Host Community Development Trust (HCDT) to Aradel Holdings Plc. This transition follows Aradel’s earlier acquisition of the Olo and Olo West marginal fields (formerly part of OML 58) from the TotalEnergies/NNPCL Joint Venture.
The handover, which took place in Abuja on friday, was presided over by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and formally completes the transfer of settlor responsibilities under the trust, ensuring that community development work already underway continues without interruption.
The OLO HCDT was established in line with the PIA’s mandate requiring operators to contribute 3 percent of their operating expenditure of the previous year toward host community development.
Speaking at the ceremony, Oritsemeyiwa Eyesan, the Commission Chief Executive of NUPRC, said the development trust remains intact, its governance structure preserved and its statutory funding obligations transitioning seamlessly to the new settlor as envisioned by the PIA.
Eyesan who was represented by John Tonlagha, Executive Commissioner, for Health, Safety, Environment, and Community (HSEC), explained 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.
In his remarks, Blessyn Okpowo, the Community Affairs Manager, Aradel Holdings Plc. 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 stated.
Also speaking, Dornu Kogam, General Manager, Community Affairs, Projects and Development at TotalEnergies encouraged Aradel Holdings to maintain the same transparent, community-centered approach throughout project completion.
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.
Wale Godwin, the Chairman, Board of Trustees, OLO host community, commended the HCDT’s delivery of 118 projects out of 160 planned.
He recognised the Commission’s role in approving the Community Development Plan (CDP) before project start, underscoring regulatory excellence.
The parties noted that between 2023 and 2025, 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.
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