Renaissance Africa Energy Company Limited has announced plans to increase its gas production capacity to 300 million standard cubic feet per day (MMSCF/D), doubling its current output of 150 MMSCF/D from oil fields located in the Niger Delta.
This was made known by Mr. Greg Akhibi, General Manager, Supply Chain at Renaissance Africa Energy, during the ongoing 2025 Nigeria Oil and Gas Opportunities Fair (NOGOF) in Yenagoa, Bayelsa State.
“Currently our gas production is at 150 million standard cubic feet of gas per day (MMSCF/D) and we project to hit 300 MMSCF/D with the anticipated increased off-take from the AKK gas pipeline expected to further increase domestic gas utilisation,” Akhibi said.
He also disclosed that the company plans to inject $15 billion into its oil and gas operations over the next five years in the Niger Delta region – its base of operation.
Akhibi, who represented Chief Tony Attah, Managing Director of Renaissance Africa Energy Company Limited at the event, emphasized that the investment is part of a strategic drive to deepen indigenous participation in Nigeria’s oil and gas sector.
Over 1,000 participants are attending the NOGOF fair, which is organised by the Nigerian Content Development and Monitoring Board (NCDMB) to showcase opportunities for local companies in the sector.
Company to fund 32 projects across domestic gas development, gas export
According to Akhibi, the $15 billion investment will fund 32 projects across domestic gas development, gas export, and crude oil production. These efforts are intended to balance the asset portfolio, which has traditionally been gas-heavy under SPDC’s ownership.
“We acquired a total of 112,000 square kilometers acreage of assets, and we intend to pursue projects that will balance the assets, which were tilted more to gas.
“We are focusing on four project areas to increase oil production, and there are upcoming activities in drilling, rigs, pipelines, and fabrication businesses,” he stated.
He added that 22 of the 32 projects are geared towards enhancing gas export capacity.
Akhibi reaffirmed Renaissance Africa’s commitment to partnering with the NCDMB and other Nigerian oil and gas companies to deliver energy solutions for Nigeria and the wider African continent.
What you should know
Renaissance Africa Energy Holdings completed the acquisition of the Shell Petroleum Development Company of Nigeria (SPDC) in December 2024, following regulatory approvals from the federal government.
Renaissance Africa, a consortium of indigenous oil firms, comprising the following companies:
- ND Western Limited,
- Aradel Holdings Plc,
- FIRST Exploration and Petroleum Development Company Limited,
- Waltersmith Group and Petrolin, an international energy firm
