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The recent acquisition of Shell Petroleum Development Company’s (SPDC) Nigerian assets by Renaissance Africa Energy Company, a consortium of local and international energy companies, has been hailed as a “historic” and “new dawn” for the energy sector.
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The $2.4 billion deal, which was finalised recently, has been described as a defining moment for Nigeria’s oil and gas industry. According to Lanre Kalejaiye, Chief Executive Officer of ND Western Limited, a partner in Renaissance Africa Energy Company, “This represents a defining moment for Nigeria’s oil and gas industry. As a partner in Renaissance Africa Energy Company, ND Western is committed to leveraging our technical and operational expertise and experience to sustain and grow production from the Renaissance assets.”
Kalejaiye expressed his company’s commitment to working with its consortium partners to deliver sustainable energy solutions that will contribute to Nigeria’s economic prosperity. “We look forward to working with our consortium partners to deliver sustainable energy solutions that will contribute to Nigeria’s economic prosperity,” he said
The acquisition, according to Kalejaiye, reinforces the capacity of indigenous companies to develop Nigeria’s hydrocarbon resources sustainably. He noted that Renaissance will enhance Nigeria’s energy security, drive industrial and economic growth, create jobs, and boost local capacity development.
The deal has positioned Renaissance as a key player in Nigeria’s upstream sector, Kalejaiye hinted
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