Renaissance Africa Energy Company Limited has announced that it has exceeded its oil production target by 40 percent within its first month of operation.
The spokesman of the company, Michael Adande, revealed this in a statement on Friday.
He stated that by the good performance underscores Renaissance’s immediate impact in Nigeria’s energy sector.
According to him, this early achievement, well above the target set for the Joint Venture (JV), signaled a bright outlook for Nigeria’s oil production growth and broader economic gains.
He quoted the Nigerian National Petroleum Company Limited (NNPC Ltd), which holds a 55 percent interest in the joint venture, as lauding Renaissance’s performance, and describing it as “sterling and remarkable.”
This according to Adande, was contained in a letter signed by Executive Vice President, Upstream, NNPC Ltd, Mr. Udobong Ntia.
Ntia said NNPC Ltd commended the leadership and staff of Renaissance for surpassing the April 2025 production target.
NNPC Ltd expressed the hope that the success would motivate Renaissance to accelerate the realisation of its initiatives to boost production while maintaining base output.
“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.
