Mkpoikana Udoma
Port Harcourt — Renaissance Africa Energy Company Nigeria Ltd, RAEC, has attributed its recent gas production surge to regulatory reforms by the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, announcing a record output of 2.2 billion cubic feet, bcf.
The company’s Managing Director and Chief Executive Officer, Mr. Tony Attah, disclosed this yesterday, during a courtesy visit to the Commission’s headquarters in Abuja to mark the firm’s one-year anniversary.
Attah praised the Commission’s role in enabling growth within Nigeria’s upstream sector, stating that the improved regulatory environment has been instrumental to the company’s performance.
He also outlined Renaissance’s expansion strategy, revealing that the company plans to “run between 10 and 15 Field Development Plans, FDPs, per year,” a move expected to further boost production and investment in the sector.
In her response, the Chief Executive of NUPRC, Mrs Oritsemeyiwa Eyesan, linked Renaissance’s growth to broader structural changes in the industry.
She noted that “Nigeria has gone through a series of divestments, with the emergence of Renaissance being a testament to the success of the latest divestment,” underscoring the role of indigenous operators in driving output growth.
SweetCrude Reports noted that the milestone reflects increasing momentum in Nigeria’s gas sector, as regulators push for higher production and local participation under ongoing reforms.
