The Renaissance African Energy Company Ltd. says it is targeting crude oil production of 500,000 barrels per day (bpd) by 2030 to boost Nigeria’s oil and gas output.
Mr Enobong Ekanem, General Manager, Business Relations of the company, disclosed this on Tuesday in Abuja at the opening of a two-day oil and gas seminar.
The seminar was organised by the company in collaboration with the Public Service Institute of Nigeria (PSIN) for senior government officials.
Ekanem said the seminar was aimed at helping public servants understand how their responsibilities and policy decisions affected oil and gas production and the Nigerian economy.
“It is very important that those who set policies for Nigeria understand what their various activities are and how those activities impact the work that we do.
“Our budgets are based on production targets, and those production targets are important for setting our country in the right direction.
“The objective is to let every public servant understand that the work they do impacts our ability to achieve those production targets,” he said.
According to him, the company took over operations from Shell Petroleum Development Company (SPDC) at about 140,000 bpd and was targeting production of about 300,000 bpd by the end of 2026.
He said the company planned to increase production to 500,000 bpd by 2030.
Ekanem also said the company was targeting two billion standard cubic feet (scf) of gas for the export market in 2026 and was already on track to achieve the target.
He said the company also planned to bring the “Sunu” project on stream, which would add about 300 million scf of gas to Nigeria’s domestic market.
“Therefore, in 2030, we are looking at one billion standard cubic feet in the domestic gas market, two billion standard cubic feet of export gas and 500,000 barrels of oil per day,” he said.
Ekanem said the company’s 2027 plans were also ambitious and designed to build on the progress recorded in 2025 and 2026.
He stressed that achieving the targets required effective collaboration between the private sector and public servants regulating and supporting the oil and gas industry.
According to him, the sector remains critical to the economy as oil and gas provide foreign exchange earnings.
“The faster you bring the oil to the surface, the more money you make for the Federal Government of Nigeria.
“You allow the country to achieve its objectives, and Nigeria will be better for you and me,” he said.
On the company’s vision of eliminating energy poverty, Ekanem said increased domestic gas supply would support industries, including fertiliser and Liquefied Petroleum Gas (LPG) plants.
He said greater availability of domestic gas would provide a safer and cleaner energy source for cooking while contributing to industrialisation and job creation.
“When there’s more work, people will earn more, the country earns more, insecurity will ultimately drop and our country will be better for each and every one of us,” he said.
Ekanem said the company’s objective was to contribute to making Nigeria better while expanding its operations across the African oil and gas market.
Also speaking, Mrs Ime Okon, Administrator of PSIN, said the collaboration was aimed at strengthening the capacity of public servants to improve service delivery.
Okon said the mandate of PSIN was to equip public servants with the knowledge and skills required to improve service delivery.
She said the collaboration with Renaissance would enhance the capacity of public servants in the oil and gas sector, as well as those whose responsibilities affected the protection and development of the country’s oil and gas infrastructure.
“Working together, the public servant understands their role better and will not be a clog in the wheel of progress.
“Once they understand how the business of oil and gas is done, when they see such files that come to them, they will know what to do with all the training we are exposing them to and will be able to deliver efficiently,” she said.
Okon said the seminar would also expose participants to public service rules, financial regulations and succession planning.
She noted that understanding public service rules was particularly important for officials who were not in the core civil service.
She said PSIN was committed to continued collaboration with the private sector to build the capacity of public servants and support the Federal Government’s efforts to improve service delivery.
NAN reports that the event was attended by captains of industry, directors from ministries, departments and agencies (MDAs), senior military and paramilitary officers, among others.
