Renaissance Africa Energy Company Limited has announced that it exceeded its oil production target by 40 percent within its first month of operation.
This was disclosed in a statement issued on Friday by the company’s spokesman, Michael Adande, who described the performance as a clear demonstration of Renaissance’s immediate impact on Nigeria’s energy sector.
According to Adande, the early achievement, which significantly surpassed the target set for the Joint Venture (JV), signals a positive outlook for Nigeria’s oil production growth and potential economic gains.
The Nigerian National Petroleum Company Limited (NNPC Ltd), which holds a 55 percent stake in the joint venture, described the performance as “sterling and remarkable.”
Adande cited a letter signed by NNPC Ltd’s Executive Vice President, Upstream, Mr. Udobong Ntia, which commended Renaissance for surpassing its April 2025 production target.
“This is to commend Renaissance Africa Energy Company Limited, your esteemed leadership team, and staff for exceeding the production target in your JV assets for April 2025,” the letter read.
NNPC Ltd expressed optimism that the milestone would inspire Renaissance to fast-track its initiatives aimed at boosting production while sustaining base output levels.
