My people, make we gist about wetin dey happen for oil and gas side! Chappal Energies, wey be Mauritius-based company wey get our own Naija brother, Ufoma Immanuel as CEO, don close $430 million financing chop for Nigeria! E no be small matter o!

This big money wey dem gather, na from senior secured reserve-based loan wey some international and African lenders gather together for Chappal Investments Ltd., their subsidiary. Dem sharp guys gather $340 million first, then add another $90 million from global commodities firm, na wetin bring the total to $430 million. Na wah!

Wetin dem go use this moni for? As dem yarn, dem go use am to refinance bridge funding wey dem take buy oil and gas assets wey Norwegians, Equinor ASA, drop. Dem say remaining money go help boost field development, optimize production, and cover ongoing costs. Na correct strategy, no be small!

Chappal management talk say this financing go help dem move from short-term funding to long-term capital wey dey fit the life span of their oil assets well. After wetin lenders check during due diligence, dem confirm say Chappal get correct reserves and their management team sabi wetin dem dey do.

Founded for 2020 by our guy Immanuel, Chappal Energies dey focus on mature oil and gas assets wey international companies dey sell. Dem sabi how to improve production reliability and make sure the fields dey produce well for long time. Immanuel no be new hand for this matter, as him don do work for investment banking and get experience for energy sector don dey run for a while now.

But wetin you go talk about the challenges? E be like say Chappal dey face some regulatory wahala as we speak. Dem agree to buy Shell’s onshore assets for $860 million, but na so dem shift ground when financial conditions no meet. Chappal still dey eye other opportunities wey go match their financial and operational plans, no wahala!

This na good sign say Naija oil sector still get life, and Chappal dey prove say dem dey ready to hustle even when g.boy dey cold for financial side. So, make we dey watch as dis saga unfold, who know wetin go happen next. Na so e be for our oil hustle!