By Faridat Salifu
Renaissance Africa Energy Company Limited has recorded a 40 percent increase above its oil production target in its first month of operations, marking a notable entry into Nigeria’s upstream oil industry.
The milestone was announced in a statement issued Friday by the company’s spokesperson, Michael Adande, who said the achievement reflects Renaissance’s immediate contribution to Nigeria’s energy output and economic outlook, according to the News Agency of Nigeria (NAN).
Renaissance operates a joint venture in which the Nigerian National Petroleum Company Limited (NNPCL) holds a 55 percent stake. In a letter signed by NNPCL’s Executive Vice President, Upstream, Udobong Ntia, the state-owned company described Renaissance’s April 2025 performance as “remarkable,” praising the firm’s leadership and staff for exceeding expectations.
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“This is to commend Renaissance Africa Energy Company Limited, your esteemed leadership team, and staff for exceeding the production target in your JV assets for April 2025,” Ntia wrote.
NNPCL expressed optimism that the achievement would drive the company to advance ongoing efforts to boost production volumes while maintaining operational stability. The company also reiterated its national goal of pushing crude oil output above 2 million barrels per day by the end of 2025 and reaching 3 million barrels daily by 2030.
Reacting to the development, Renaissance CEO Tony Attah welcomed the recognition, describing it as a morale booster. He said the company is already exploring additional strategies to raise production capacity without compromising current levels.
“For us, it is a taste of the new beginning we have promised,” Attah stated, adding that collaboration with communities, regulatory bodies, and joint venture partners has been crucial to the company’s early success.
Renaissance began operations in December 2024 after acquiring Shell Petroleum Development Company of Nigeria (SPDC), following government approvals. The company is backed by a consortium comprising ND Western Limited, Aradel Holdings Plc, FIRST Exploration & Petroleum Development Company Limited, Waltersmith Group, and international energy firm Petrolin.
