RENAISSANCE ENERGY AFRICA SMASHES PRODUCTION TARGETS WITH 40% SURGE
Nigerian energy powerhouse Renaissance Africa Energy has delivered a stunning operational performance, exceeding its first-month oil production target by an impressive 40% in early 2025. The achievement marks a remarkable start for the consortium following its historic $1.3 billion acquisition of Shell’s Nigerian assets in December 2024.
The consortium, comprising ND Western Ltd., Aradel Holdings Plc, FIRST Exploration and Petroleum Development Company Ltd., Waltersmith Group and Petrolin, has unveiled an ambitious $15 billion investment plan over the next five years. The massive investment will span 32 projects focused on increasing crude oil and gas production, expanding pipeline infrastructure, and doubling domestic gas output in Nigeria’s Niger Delta region.
In the gas sector, Renaissance Africa Energy is targeting a doubling of production from 150 million to 300 million standard cubic feet per day. This ambitious target will be supported by major infrastructure projects including the Ajaokuta-Kaduna-Kano gas pipeline, expected to facilitate greater domestic gas utilization and support gas exports.
With a combined asset base valued at approximately $3 billion and a current production rate of around 100,000 barrels per day, Renaissance Africa Energy is rapidly establishing itself as a dominant force in Nigeria’s energy landscape.
Source: championnews.com.ng
