The Federal Government has challenged Renaissance Africa Energy Company to significantly increase crude oil production at facilities recently acquired from Shell Energy.
During a high-level meeting with the company’s management, Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, emphasized that both the government and citizens have heightened expectations following the divestment.
“Having acquired Shell, the expectations are extremely high,” Lokpobiri stated. “Nigerians expect visible demonstration of improvement through increased production within the shortest possible timeframe.”
Renaissance Africa Energy represents a consortium of five companies, including four independent Nigerian firms—ND Western Limited, Aradel Holdings Plc, FIRST Exploration and Petroleum Development Company Limited, and Waltersmith Group—alongside international partner Petrolin.
The minister specifically urged the company to re-enter shut-in wells and develop a clear roadmap for production growth. “If you’re currently producing 200,000 barrels, what support do you need to reach 300,000? I know you can achieve much more,” he added.
Lokpobiri also expressed his intention to visit the company’s Lagos headquarters to better understand their production enhancement plans, underscoring the government’s commitment to supporting indigenous operators in maximizing Nigeria’s oil assets.
Source: tribuneonlineng.com
