Renaissance Africa Pledges $15 Billion Investment in Niger Delta 

Renaissance Africa Energy Company Limited unveiled a $15 billion investment into its oil fields in the Niger Delta region over the next five years.

In addition, it announced plans to increase its gas production capacity from 150 to 300 million standard cubic feet per day.

Greg Akhibi, Renaissance Africa Energy Supply Chain General Manager, disclosed this on May 22 at the 2025 Nigeria Oil and Gas Opportunities Fair in Yenagoa.

At the event, Mr Akhibi represented Tony Attah, the Managing Director of Renaissance Africa Energy Company Limited.

More than 1,000 participants partook in the fair organized by the Nigerian Content Development and Monitoring Board.

The event aimed to showcase opportunities to deepen Nigerian companies’ participation in the oil and gas sector.

Akhibi stated that Renaissance Africa’s $15 billion investment would go to 32 projects to develop domestic gas, export gas, and more crude oil production to balance SPDC’s overall portfolio.

He added that 22 of the 32 projects will enhance gas export capacity.

According to Akhibi, “We are focusing on four project areas to increase oil production and there are upcoming activities in drilling, rigs, pipelines and fabrication businesses. We are also looking at 22 projects to increase export in gas production.”

The announcement comes amid Renaissance Africa Energy Company Limited declaration on May 16 that it exceeded its production target by 40% within its first month of operation.

Renaissance Africa’s Acquisition of SPDC Assets

In January 2024, Shell PLC announced its decision to sell its stake in the Shell Petroleum Development Company of Nigeria Limited (SPDC).

The buyer, Renaissance Africa Energy Company Limited, is a consortium of five leading Nigerian exploration and production companies.

These include FIRST E&P, ND Western, Aradel Energy, Waltersmith, and Petrolin.

The acquired assets include:

• 15 onshore OMLs and 3 shallow-water OMLs, totalling 18 oil licenses.
• Over 250 producing oil wells, with 189 located in the western assets and 61 in the eastern assets.
• Around 37 producing gas wells, comprising 4 in the western assets and 33 in the eastern assets.
• A network of about 5,000 kilometres of oil and gas pipelines (Trans Niger Pipeline).
• Two major onshore oil export terminals (Bonny and Forcados).
• Flow stations and gas plants.
• About 6.73 billion barrels of oil equivalent, along with 56.3 trillion cubic feet of associated and non-associated natural gas

Operational Challenges Ahead for Renaissance Africa

Renaissance Africa Energy Company Limited faces operational and strategic challenges despite its impressive first-month performance.

For instance, Renaissance acquired legacy assets from Shell, many developed decades ago. These include flow stations, pipelines, and terminals that have not received considerable upgrades in years.

Also, the threat of oil theft and pipeline vandalism remains a top concern. The Trans Niger Pipeline is constantly targeted by militants, vandals, and oil bunkers.