In over 100 days since taking over the operations of Shell, Renaissance Africa Energy Company Limited has ramped up production to 240,000 barrels per day.
The Chairman of Renaissance, Mr Layi Fatona, at a panel session at the ongoing NOG Energy Week in Abuja, described the rapid output growth as proof of the company’s bold commitment to driving oil and gas optimization across its assets.
Mr Fatona, who spoke on Harnessing Africa’s Energy Shift – From Acquisition to Optimisation, said his firm has been able to ramp up output by about 71 per cent from 140,000 barrels daily to 240,000 barrels per day.
“We have increased production from around 140,000 barrels per day when we took over, and I think yesterday, we were doing something around 240,000 barrels per day,” adding that, “And for the first time in nearly five years, Renaissance was able to deliver up to 1.9 million standard cubic feet of gas to NLNG.”
Recall that after some delays, Renaissance finally acquired the joint venture onshore assets under Shell Petroleum Development Company (SPDC) in early 2025, making it Nigeria’s biggest upstream operator by asset portfolio and installed capacity.
In the first month post-acquisition, it announced that it had increased output by 40 per cent.
Mr Fatona emphasized that while speed is important, Renaissance’s top priority is achieving production excellence without compromising on safety, community relations, or environmental standards.
“The country is very, very hungry for increased and enhanced production. But more importantly, we recognize that it is not just the speed at which we do this, but the diligence and care for people, for safety, and for the environment.”
According to him, Renaissance is not just focused on being a replacement for Shell, it’s focused on exceeding expectations with a people-centered and sustainability-driven approach.
“We inherited over 1,700 staff and more than 5,000 contractors. They are not just contractors; they are our partners. We are here to stay. We are here to deliver the government’s aspirations for increased oil and gas production.”
He also highlighted the company’s alignment with ministerial directives to boost output while ensuring global operating standards are upheld.
“Whatever we do, we will do it safely and with absolute respect for our communities, protecting the environment and never compromising on global best practices,” he said.