Abuja:The Renaissance African Energy Company Ltd. has announced its goal to reach crude oil production of 500,000 barrels per day by 2030 to enhance Nigeria’s oil and gas output. This announcement was made by Mr. Enobong Ekanem, General Manager of Business Relations, during the opening of a two-day seminar in Abuja.
According to the News Agency of Nigeria, the seminar, organized in collaboration with the Public Service Institute of Nigeria (PSIN), was designed to help senior government officials understand the impact of their decisions on oil and gas production and the broader Nigerian economy.
Ekanem emphasized the importance of public servants recognizing how their roles influence the company’s ability to meet production targets, which are crucial for setting the nation’s economic direction. He highlighted that the company had taken over operations from Shell Petroleum Development Company at approximately 140,000 barrels per day and aimed to increase this to about 300,000 barrels per day by the end of 2026.
The company also plans to achieve two billion standard cubic feet of gas for export by 2026 and is on track to introduce the ‘Sunu’ project, which will add around 300 million standard cubic feet of gas to Nigeria’s domestic market. By 2030, Renaissance aims to supply one billion standard cubic feet of gas domestically, in addition to its oil production goals.
Ekanem further stressed the need for effective collaboration between the private sector and public servants to support the oil and gas industry, which is vital for Nigeria’s foreign exchange earnings. He explained that faster oil production benefits the federal government financially and helps achieve national objectives.
In line with its vision to eliminate energy poverty, Renaissance is committed to increasing domestic gas supply to support various industries and provide cleaner energy for cooking, contributing to industrialization and job creation.
Mrs. Ime Okon, Administrator of PSIN, reiterated the importance of the collaboration to strengthen public servants’ capacity to improve service delivery. She noted that the seminar would enhance understanding of public service rules and financial regulations, equipping officials with the skills needed to support the oil and gas sector effectively.
The event was attended by industry leaders, directors from ministries, departments, agencies, and senior military and paramilitary officers.