The federal government has gained the energy of the Africa Renaissance to increase the production of crude oil in the facilities under its control.
Renaissance Africa Energy Company is a consortium that unites five energy companies, including four independent Nigerian companies and an international company: ND Western Limited, Aradel Holdings PLC, First Exploration and Petroleum Development Company Limited, Waltersmith Group and Petrolin. The consortium has the mission of taking advantage of the abundant energy resources of Africa as a catalyst for development and progress.
The Minister of State for Petroleum Resources (oil), Heineken Lokpobiri, declared this when he received the administration of the oil company in his office.
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Lokpobiri pointed out that the Nigerians and the government have high expectations of the company after Shell Energy's divestment.
“Our conviction is that this country will grow better under the Renaissance and the other companies that Shall and Mobil acquired. I have also said that more companies should try to acquire water assets in land and shallow. As a government, our responsibility is to create the best environment for you to really exhibit what you can offer to Nigeria.
“Having acquired Shell, expectations are very high. Nigerians expect that, in the shortest possible time, he visibly demonstrates the expected changes in increasing production, which we really need.
“In fact, I am anxious to visit it in your office in Lagos to sit with you and understand your plans. What is your plan to increase production? What are you doing now? If you are producing 200,000 barrels, what can we support it so you can reach 300,000?