White & Case advises lenders on financing for Shell's onshore and shallow water assets in Nigeria acquired by Renaissance Africa Energy

Global law firm White & Case LLP has advised the lenders on the bifurcated stapled financings for Shell's onshore and shallow water assets in Nigeria acquired by Renaissance Africa Energy, a consortium of five Nigerian oil and gas companies.

White & Case partner Jason Kerr, who led the Firm's deal team, said: "White & Case has a strong track record advising on strategic, high-profile energy transactions, as well as more than 40 years’ experience advising on deals in Nigeria. Our work with the lenders on what is one of the most impactful financings of its kind in Nigeria to date reinforces our position as a leading adviser on energy transactions in the region and across Africa, and further demonstrates why clients trust us to deliver on their most strategic transactions."

The deal, which was finalized on March 13, 2025, comprised the sale of Shell Petroleum Development Company of Nigeria Limited (SPDC), which holds a significant portfolio of onshore oil mining leases and shallow-water assets in Nigeria. The consortium of Nigerian oil and gas companies included ND Western, Aradel Energy, First E&P and Waltersmith, based in Nigeria, and the international energy group Petrolin, signalling a move towards greater indigenous participation in the country's energy landscape.

The White & Case team in London which advised on the transaction was led by partner Jason Kerr and included partners Deji Adegoke, Mukund Dhar and Tom Falkus, counsel Johanna Hayward and associates Ekaterina Logvinova, Joss Cary, Kian Newlyn and Tom Wilkinson.

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