Renaissance Africa Energy,a consortium of independent oil and gas companies has announced $15 billion investment plan and pivotal role in Nigeria’s upstream sector.
Its Chief Executive Officer (CEO), Tony Attah, said the nvestment plan targets 32 oil and gas projects over the next five years.
He said:”Renaissance Africa Energy is rapidly positioning itself as a key driver of indigenous oil and gas development in the Niger Delta region. The company’s immediate operational success – exceeding its oil production target by 40% in its first month – underscores its commitment to growth, efficiency and stakeholder collaboration.”
Renaissance Africa Energy completed the $1.3 billion acquisition of SPDC’s assets in December 2024.
The development marked a turning point for local participation in Nigeria’s oil industry and reflected the Nigerian government’s commitment to empowering indigenous operators through the implementation of the country’s Petroleum Industry Act, which improves the sector’s fiscal framework, governance and regulatory procedures.
The state-owned Nigerian National Petroleum Company Ltd. – which retains a 55% stake in the SPDC joint venture with Renaissance Africa Energy – has acknowledged the company’s swift progress.
The joint venture is expected to play a pivotal role in helping Nigeria meet its national production goals – targeting over two million barrels per day (bpd) by 2025 and three million bpd by 2030.
With combined asset base of $3 billion and production rate of 100,000 bpd positions Renaissance Africa Energy to deliver high-impact energy solutions across Nigeria and the continent. Under
Attah’s leadership, Renaissance Africa Energy operates under four strategic areas of focus: boosting oil production through drilling and rig operations; expanding pipeline and fabrication capacity; growing domestic gas supply; and enhancing gas exports through 22 dedicated projects.
Under these pillars, one of the company’s core objectives is to double gas output from 150 million to 300 million standard cubic feet per day, which will see support from critical infrastructure such as the Ajaokuta-Kaduna-Kano gas pipeline.
Meanwhile,Tony Attah, has been confirmed to speak at this year’s African Energy Week (AEW): Invest in African Energies 2025 conference, taking place from September 29 to October 3 in Cape Town.
His participation comes at a moment as Renaissance Africa Energy spearheads one of Nigeria’s most ambitious upstream investment campaigns following the company’s landmark acquisition of energy major Shell’s Nigerian subsidiary Shell Petroleum Development Company of Nigeria’s (SPDC).
His participation at AEW is set to highlight Renaissance Africa Energy’s transformative role in reshaping Nigeria’s upstream sector.