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Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has commended the management and staff of Renaissance Africa Energy Company Limited for their strides in increasing oil and gas production from the company’s operated assets.
The minister gave the commendation during a visit to the company’s exhibition booth at the ongoing 43rd Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.
Lokpobiri praised Renaissance for its performance since acquiring onshore assets divested by Shell in a $2.4 billion transaction that positioned the company as operator of the largest joint venture in Nigeria’s oil and gas industry. He assured that the Federal Government would continue to support the company’s efforts to sustain and grow production levels.
The government will continue to encourage companies like Renaissance that are investing in Nigeria, creating jobs, and contributing to our national energy goals,” the minister said.
Welcoming the minister, Chairman of the Board of Renaissance, Dr. Layi Fatona, reaffirmed the company’s commitment to driving sustained growth and operational excellence. He disclosed that production from the company’s portfolio had increased by more than 40 percent since the acquisition, while gas supply to the Nigeria LNG plant has been restored without interruption.
“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,” Dr. Fatona stated. “We are aware of how much the nation depends on us to succeed, and we remain focused on that mission.”
Dr. Fatona added that Nigeria retains significant strategic advantages in the global energy landscape, citing the country’s vast hydrocarbon reserves, young population, and entrepreneurial resilience. He said Renaissance continues to invest in human capacity development to build the next generation of skilled energy professionals.
“This is why, at Renaissance, we dedicate time and resources to mentoring young Nigerians and helping them see the opportunities within the energy sector to drive industrialisation and national growth,” he said.
