Renaissance Africa Energy Company has been recognised by global energy intelligence firm, Wood Mackenzie, as Africa’s leading oil and gas producer among the top 10 on the continent.
In an upstream-focused report in an edition of its market intelligence publication, The Edge, Wood Mackenzie noted that eight Nigerian independents make the top 10 list, representing 75% of the total value of Africa’s independent oil and gas companies, estimated at around US$12 billion.
Egypt’s Cheiron and Angola’s Etu Energies make up the list with Renaissance standing at the top.
According to the Wood Mackenzie report, “Nigeria’s independent oil and gas producers are helping to reinvigorate the country’s upstream sector and boost production after years of decline”. These companies, the report added, contribute 27% of the country’s overall production, more than double their 12 percent contribution a decade ago.
Beyond the opportunities provided by the gale of divestments by the oil majors, the report attributed the industry growth in Nigeria to “supportive government policies and a strong domestic skills base with over 100 local players active across the upstream sector”.
Nigerian independents, the report added, have become critical to reversing years of production decline and supporting the country’s ambition to reach 3 million barrels per day by 2030.
Commenting on the recognition, Managing Director and Chief Executive Officer of Renaissance, Tony Attah, said, “This acknowledgment by Wood Mackenzie reflects more than operational scale. It highlights the growing role of indigenous companies, particularly Renaissance, in shaping Africa’s energy future.
“At Renaissance, we see this as both a validation and a responsibility to continue delivering sustainable energy solutions while contributing meaningfully to national and continental development,” Attah said.
Renaissance operates the largest upstream joint venture in Nigeria and produces 673,000 barrels of oil per equivalent per day. The company’s joint venture portfolio comprises 18 oil mining leases; one floating production, storage and offloading vessel; and two export terminals – one at the Bonny Island in Rivers State and the other at Forcados in Delta State.
The company has set an ambition of one million barrels of oil equivalent per day by 2030 in alignment with its corporate vision of being Africa’s leading energy company, enabling energy security and industrialisation in a sustainable manner.
