Mkpoikana UdomaPort Harcourt — Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has commended Renaissance Africa Energy Company Limited for driving significant growth in oil and gas production less than a year after the exit of Shell from onshore Nigeria.
The $2.4 billion transaction, which transferred operational control of Nigeria’s largest joint venture to Renaissance, has seen production rise by over 40 percent and restored uninterrupted gas supply to the Nigeria LNG plant.
Speaking at the Renaissance exhibition booth during the 43rd annual international conference of the Nigerian Association of Petroleum Explorationists, NAPE, in Lagos, the Minister lauded the leadership and staff for their performance.
“I commend Renaissance Africa for its commitment and the results achieved in such a short period. This is exactly the kind of indigenous participation we want to see in our oil and gas sector,” Senator Lokpobiri said.
Receiving the Minister, Chairman of the Board of Renaissance, Dr. Layi Fatona, reiterated the company’s focus on sustaining growth and operational excellence.
“Renaissance, as operator of the joint venture, holds a portfolio spanning onshore and shallow-water terrains, as well as the Bonny and Forcados crude export terminals and the Sea Eagle FPSO. We are aware of just how much our nation needs for us to succeed and we remain focused,” Dr. Fatona said.
He added that Nigeria continues to hold strategic advantages in the global energy sector, including world-class reserves, a young and dynamic workforce, entrepreneurial agility, and resilience to innovate.
“This is why, at Renaissance, we spend time with young talents, to help the upskilling of Nigeria’s youthful energy talent and help them appreciate the opportunities available to achieve incredible targets and join to industrialise our nation with our energy resources,” Dr. Fatona said.
Renaissance continues to position itself as a key player in Nigeria’s energy transition, leveraging technical expertise, indigenous talent development, and strategic investments to sustain growth and ensure uninterrupted hydrocarbon supply for domestic and international markets.
