The Niger Delta Exploration and Production (NDEP) on Friday, rebranded, changed its name to ARADEL Holding.
According to the company’s chairman, Ladi Jadesimi, rebranding became necessary after the company’s clocks 30 years of operating in Nigeria.
ARADEL, he said, would continue to grow as it explores new opportunities to expand from upstream, midstream and downstream and serve Nigerian markets and communities.
The company was incorporated on March 25, 1992 (as the Midas Drilling Fund) and assumed its current name in November 1996. Currently, the company is only none JV firm that supplies gas to NLNG.
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“The vision of the company’s founding fathers was to create a vehicle that would afford ordinary Nigerians the opportunity to participate in and benefit from the country’s oil and gas industry”
Executive Secretary, Nigeria Content Management Development Board (NCMDB), Simbi Wabote, urged the ARADEL Holding management to uphold the ideal of local content.
He also urged them to be active in the divestment of assets by international oil companieS One of the commendable thing the company has done is strict compliance to corporate governance.
He Urges oil and gas operators in Nigeria to adhere to the spirit of corporate governance.
“We at NCMDB proud to be associated with you and support of the board on this journey”, he said
