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In a strong call to action, Renaissance Africa Energy Company Limited has urged African nations to take full control of the continent’s vast hydrocarbon resources, describing energy leadership as vital to driving industrialisation and sustainable growth.
“We are sitting on immense natural wealth, yet we remain dependent. This must change. Renaissance is here to ignite that change, starting from Nigeria and spreading across the continent,” said Dr Layi Fatona, Chairman of the Board of Directors at Renaissance, during a high-level panel titled Frontier Plays in Mature Basins at the ongoing Africa Energy Week in Cape Town, South Africa.
Dr Fatona stressed the need for deeper strategic thinking and the use of cutting-edge technologies to maximise Africa’s energy potential.
“We must move beyond extraction to transformation. Mature basins like the Niger Delta, Sirte, and Lower Congo are not just relics — they are bridges to a cleaner, more secure energy future,” he said.
According to him, the key to improving exploration and production in mature basins lies in advanced technologies, particularly improved seismic imaging and drilling capabilities for high-pressure, high-temperature deep wells.
“Depleted reservoirs in the Niger Delta, Sirte Basin, and Lower Congo Basin can be repurposed for CO₂ storage, supporting decarbonisation and Africa’s energy transition,” he added.
Dr Fatona criticised Africa’s historic failure to harness its abundant natural resources for the development and well-being of its people. He urged leaders to adopt innovative strategies and technologies to optimise existing energy assets.
“The opportunity is here. The time is now. Let us lead our own energy revolution,” he declared.
Renaissance, formerly Shell Petroleum Development Company of Nigeria Limited, is a wholly owned subsidiary of Renaissance Africa Energy Holding Company and operates Nigeria’s largest upstream joint venture alongside NNPC Limited, TotalEnergies, and Agip Energy and Natural Resources.
