Renaissance affirms alignment with Nigeria’s 3mbpd 2030 ambition

Mkpoikana Udoma

Port Harcourt — Renaissance Africa Energy Company Limited, RAEC, has declared its ambition to power Nigeria’s oil production growth and redefine Africa’s energy narrative, following its acquisition of Shell’s onshore assets and assumption of joint venture operatorship.

Speaking recently at the Energy CEOs session at the Sub-Saharan Africa International Petroleum Exhibition and Conference, SAIPEC, in Lagos, Managing Director and Chief Executive Officer of Renaissance Africa Energy, Tony Attah, said the company is positioning itself as a driver of energy security and industrialization.

“We have a very audacious vision, to be Africa’s leading energy company, enabling energy security and industrialization in a sustainable manner,” Attah said.

Attah, who was represented by the company’s Vice President, Development, Wells and Technology, Abdulrahman Mijinyawa, added that Renaissance’s growth strategy is fully aligned with Nigeria’s output targets.

“We are actively working on the path of growth which is fully aligned with Nigeria’s ambition to produce two million barrels of oil per day by 2027 and three million barrels by 2030,” he stated.

Renaissance emerged following the acquisition of all of Shell’s shares in the former Shell Petroleum Development Company, SPDC. Attah described the transaction as a defining moment for African participation in the upstream sector.

“Renaissance was born out of a strong conviction that the time is ripe for Africa to define its own energy story,” he said, noting that the deal provides a platform to activate the company’s long-term ambitions.

On assuming operatorship of the joint venture comprising Nigerian National Petroleum Company Limited, Renaissance Africa Energy, TotalEnergies Limited, and Agip Energy and Natural Resources, Attah said the transition was executed through a structured three-phase strategy.

He described the process as “a multidimensional effort centred on safely receiving the assets, stabilising them, and then growing them.”

According to him, the company achieved a more than 40 per cent increase in joint venture oil and gas output within the first 100 days of operatorship.

“The workforce continuity was a major competitive advantage that preserved institutional memory and enabled immediate operational stability from day one,” he said.

Attah added that Renaissance has embedded international oil company-grade safety standards across its operations.

“We have elevated safety to a core value, embedding IOC-grade discipline across processes and field execution to protect people, assets and the environment,” he said.

SweetCrude Reports noted that Renaissance’s emergence signals a broader shift towards indigenous-led operatorship in Nigeria’s upstream sector, with implications for production growth, local capacity development and long-term energy security.