The Federal Government has charged Renaissance Africa Energy with ramping up crude oil production at facilities under its control.
Renaissance Africa Energy Company is a consortium uniting five energy companies, including four independent Nigerian firms and one international company: ND Western Limited, Aradel Holdings Plc, FIRST Exploration and Petroleum Development Company Limited, Waltersmith Group, and Petrolin. The consortium is on a mission to harness Africa’s abundant energy resources as a catalyst for development and advancement.
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, stated this when he received the management of the oil company in his office.
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Lokpobiri noted that Nigerians and the government have high expectations of the company following the divestment by Shell Energy.
“Our conviction is that this country will grow better under Renaissance and the other companies that acquired Shell and Mobil. I have also said that more companies should try to acquire onshore and shallow water assets. As a government, our responsibility is to create the best environment for you to truly exhibit what you can offer Nigeria.
“Having acquired Shell, the expectations are very high. Nigerians are expecting that you will, within the shortest possible time, visibly demonstrate the expected changes by ramping up production, which we really, really need. I’m aware of a couple of shut-in wells; you have to re-enter every available well.
“In fact, I’m looking forward to visiting you at your office in Lagos to sit with you and understand your plans. What is your plan to ramp up production? What are you doing now? If you’re producing 200,000 barrels, what can we support you with so that you can reach 300,000? I know you can do a lot more. So, our expectation is that you will have a clear roadmap outlining where you want to go and where you want to be,” he said.
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