• $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.
BCEAO lowers main rate from 3.50% to 3.25% effective June 16, 2025 Inflation eased to 2.3% in...
AfDB raised $3 billion in a two-part bond issuance in U.S. dollars. The deal included th...
IFC to acquire stake in KERA Health, an AI-based e-health platform in Senegal Funding to supp...
• WAEMU’s inflation dropped from 2.2% in March to 1.5% in April 2025• BCEAO attributes the decline t...
• Funding resumes after 2023 suspension tied to Uganda’s anti-LGBT legislation• Three new projects a...
• The World Bank approves $88.7 million for the “Excellence in Learning” education project• The program aims to improve access and quality of...
• Algeria sets goal to raise date export revenues to $250 million per year• New plan aims to expand exports from 57 to 150 countries• Challenges...
• South African academy WeThinkCode receives R35 million ($2 million) from Google.org• The program targets 12,000 youth in South Africa and Kenya,...
• RAM to acquire up to 50 Boeing 737 MAX jets, several 787 Dreamliners, and around 20 Airbus A220s• The plan supports the airline’s long-term strategy to...
Located in the Seychelles archipelago, over 1,100 kilometers southwest of Mahé, Aldabra is one of the largest coral atolls in the world. It is composed of...
Le Morne Brabant, a basaltic mountain rising 556 meters in the southwest of Mauritius, overlooks a landscape of striking natural beauty. More than a...