Renaissance Africa Power Firm Restricted has introduced plans to extend its fuel manufacturing capability to 300 million normal cubic ft per day (MMSCF/D), doubling its present output of 150 MMSCF/D from oil fields positioned within the Niger Delta.
This was made recognized by Mr. Greg Akhibi, Common Supervisor, Provide Chain at Renaissance Africa Power, through the ongoing 2025 Nigeria Oil and Fuel Alternatives Truthful (NOGOF) in Yenagoa, Bayelsa State.
“At the moment our fuel manufacturing is at 150 million normal cubic ft of fuel per day (MMSCF/D) and we challenge to hit 300 MMSCF/D with the anticipated elevated off-take from the AKK fuel pipeline anticipated to additional enhance home fuel utilisation,” Akhibi mentioned.
He additionally disclosed that the corporate plans to inject $15 billion into its oil and fuel operations over the following 5 years within the Niger Delta area – its base of operation.
Akhibi, who represented Chief Tony Attah, Managing Director of Renaissance Africa Power Firm Restricted on the occasion, emphasised that the funding is a part of a strategic drive to deepen indigenous participation in Nigeria’s oil and fuel sector.
Over 1,000 individuals are attending the NOGOF honest, which is organised by the Nigerian Content material Growth and Monitoring Board (NCDMB) to showcase alternatives for native corporations within the sector.
Firm to fund 32 initiatives throughout home fuel improvement, fuel export
In keeping with Akhibi, the $15 billion funding will fund 32 initiatives throughout home fuel improvement, fuel export, and crude oil manufacturing. These efforts are supposed to stability the asset portfolio, which has historically been gas-heavy below SPDC’s possession.
“We acquired a complete of 112,000 sq. kilometers acreage of property, and we intend to pursue initiatives that can stability the property, which have been tilted extra to fuel.
“We’re specializing in 4 challenge areas to extend oil manufacturing, and there are upcoming actions in drilling, rigs, pipelines, and fabrication companies,” he acknowledged.
He added that 22 of the 32 initiatives are geared in direction of enhancing fuel export capability.
Akhibi reaffirmed Renaissance Africa’s dedication to partnering with the NCDMB and different Nigerian oil and fuel corporations to ship power options for Nigeria and the broader African continent.
What it is best to know
Renaissance Africa Power Holdings accomplished the acquisition of the Shell Petroleum Growth Firm of Nigeria (SPDC) in December 2024, following regulatory approvals from the federal authorities.
Renaissance Africa, a consortium of indigenous oil companies, comprising the next corporations:
- ND Western Restricted,
- Aradel Holdings Plc,
- FIRST Exploration and Petroleum Growth Firm Restricted,
- Waltersmith Group and Petrolin, a world power agency
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