The Federal Government
has renewed its call for more investment in Nigeria’s oil and gas sector as
part of ongoing efforts to ramp up crude production and increase national
revenue.
Speaking in Abuja on Monday,
Olu Verheijen, Special Adviser to President Bola Ahmed Tinubu on
Energy, praised Renaissance Africa Energy Company Limited for recording
over a 40% increase in crude oil production within 150 days of
operations.
Verheijen commended the
company for its rapid turnaround since March 2025, when Renaissance
Africa Energy Holdings completed the acquisition of Shell Petroleum
Development Company Limited (SPDC) and rebranded it Renaissance Africa
Energy Company Limited, while retaining its role as operator of the joint
venture.
“We continue to work on
investment-enabling reforms to achieve our national energy targets. Renaissance
Africa has done a good job so far in increasing production, and we look forward
to new wells and drilling activities,” Verheijen said.
On his part, Tony Attah,
MD/CEO of Renaissance Africa, credited the government’s reforms, including three
Executive Orders in the energy sector, for creating an enabling environment
that spurred the company’s success.
“Our vision is to be
Africa’s leading energy company, enabling energy security and industrialisation
sustainably. Improved processes and work conditions have helped us boost output
by about 40% and, for the first time in over five years, we are now fulfilling
our contractual gas supply to NLNG Limited,” Attah stated.
The development marks a
significant step in Nigeria’s drive to restore investor confidence in the oil
and gas industry, which remains central to the country’s economic
diversification and energy security goals.
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