ArdoGreen Energy Limited is an indigenous Upstream Oil and Gas Company founded in 2021. It is a Special Purpose Vehicle (SPV) created out of the union between Ardova Plc (AP) (53.03%) and Petrodev Oil & Gas Limited (Petrodev) (46.97%) following the successful award of the PPL 203 - Olua Marginal Field (formerly OML 25) to both companies as co-leasers under the 2020 Marginal Field Bid Round (MFBR) exercise. ArdoGreen was therefore incorporated to be the operator of the Olua Marginal Field in line with the requirements of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), formerly Department for Petroleum Resources (DPR).
