• $15 billion investment planned over five years to expand oil and gas operations
• Company aims to double gas output from 150 to 300 mmscf/d
• 32 projects to be rolled out, including 22 focused on gas exports

Renaissance Africa Energy, which recently acquired assets formerly operated by Shell, plans to expand its presence in Nigeria’s oil and gas industry with a $15 billion investment over five years.

The company formalized this investment plan on May 22, on the sidelines of the Nigerian Oil & Gas Opportunity Fair (NOGOF). The funds will support hydrocarbon activities in the Niger Delta, where a significant portion of Nigeria’s oil infrastructure is located.

According to company representatives, Renaissance will implement 32 projects under the plan, 22 of which are focused on boosting gas export capacity. A key goal is to double its gas production from the current level of 150 million standard cubic feet per day (mmscf/d) to 300 mmscf/d.

“At present, our gas production is 150 million standard cubic feet per day, and we forecast reaching 300 mmscf/d with the planned increase in the AKK (Ajaokuta-Kaduna-Kano) pipeline activity, which should further increase domestic gas usage,” said Greg Akhibi, Supply Chain Director at Renaissance Africa Energy.

The investment aligns with the company’s broader strategy to rebalance its portfolio by strengthening oil production and accelerating gas monetization while reinforcing its position in export markets.

Project execution will depend on Renaissance’s ability to operate effectively in a challenging environment. The company continues to face security and environmental risks, including three oil spill incidents recorded in May 2025 alone.