Sopuruchi Onwuka

Renaissance Africa Energy Company Nigeria Ltd has outlined plans to ramp up development activity across its asset base, targeting up to 15 Field Development Plans (FDPs) annually, as it scales up gas production and expands operations.

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The company’s Managing Director and Chief Executive Officer, Tony Attah, disclosed this during a presentation at the Nigeria Upstream Petroleum Regulatory Commission headquarters in Abuja.

Attah also announced that the company has reached a record gas output of 2.2 billion cubic feet (bcf), exceeding its earlier production targets ahead of schedule. He added that Renaissance is now aiming to increase output to over 3.0 bcf within the next four years.

“I am very proud to confirm that we have delivered 2.2bcf of gas and surpassed our 2030 target,” Attah said, noting that the milestone was achieved with regulatory support from the Commission.

During the visit, which marked the company’s first anniversary, Attah commended NUPRC for creating an enabling environment that has supported Renaissance’s growth and operational ambitions.

“We want to run between 10 and 15 FDPs per year, and ultimately scale to about 25. This will require strong collaboration with the Commission, as no FDP can be delivered without regulatory alignment,” he said.

He added that the company’s expansion plans are tied to broader goals of strengthening energy security in Africa and supporting Nigeria’s industrialisation through increased gas supply.

Responding, the Commission Chief Executive of NUPRC, Oritsemeyiwa Eyesan, said Renaissance’s progress validates the ongoing transition of assets from international oil companies to indigenous operators.

She noted that Nigeria’s oil production, which previously declined from over 2 million barrels per day to about 900,000 bpd, is now recovering, with local companies playing a growing role in the rebound.

“We are back on an upward trajectory, and Renaissance will play a major role in that story,” Eyesan said.

She recalled that there had been concerns about whether local companies could effectively manage assets divested by international oil companies. However, she said Renaissance’s performance has helped dispel those doubts.

“The apprehension was whether Nigerian companies could step into the shoes of IOCs and deliver. Today, Renaissance has shown that those fears were unfounded,” she added.

Eyesan assured the company of continued regulatory support, describing NUPRC as a business enabler committed to helping operators succeed. She also called for stronger industry collaboration to sustain growth in the upstream sector.

Renaissance is one of the indigenous firms that emerged from recent divestments by international oil companies. The company acquired onshore and shallow water assets from Shell Petroleum Development Company of Nigeria, marking a significant shift toward increased local participation in Nigeria’s oil and gas industry.