Nigeria’s Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, has commended the leadership and staff of Renaissance Africa Energy Company Limited for driving the oil and gas output increase less than a year after the deal that saw the exit of Shell from onshore Nigeria. The $2.4billion deal resulted in Renaissance emerging the operator of the biggest joint venture in Nigeria’s oil and gas industry.
The Minister’s commendation came during his visit to the exhibition booth of Renaissance at the ongoing 43rd annual international conference of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.
Receiving the minister and NAPE leadership, Chairman of the Board of Renaissance, Dr. Layi Fatona, reiterated the company’s commitment to continuing on the trajectory of growth which has ramped up the company’s production post the share sale deal by over 40 percent and restored uninterrupted gas supply to the Nigeria LNG plant.
“Renaissance, as operator of the joint venture, holds a portfolio spanning onshore and shallow-water terrains, as well as the Bonny and Forcados crude export terminals and the Sea Eagle FPSO. We are aware of just how much our nation needs for us to succeed and we remain focused,” Dr. Fatona said.
According to Dr. Fatona, Nigeria retains enormous strategic advantages in today’s energy world because the country holds world-class reserves; a young and dynamic population; entrepreneurial agility, and resilience to innovate forward.
“This is why, at Renaissance, we spend time with young talents, to help the upskilling of Nigeria’s youthful energy talent and help them appreciate the opportunities available to achieve incredible targets and join to industrialise our nation with our energy resources” Dr. Fatona said.
