…Mesh Maichibi, CPO, points to capacity-building, safe receive system, etc
Barely one month after taking over from Shell Petroleum Development Company (SPDC), the wholly Nigerian company that acquired the Dutch company, Renaissance Africa Energy Limited, doubled the production they met, and rose from 133,000 barrels per day to 230,000bpd. This seemed to shock the world as many wondered what magic saw to this.
Now, Renaissance has unveiled its short term and medium term targets, saying by January 2026, it would deliver 300,000bpd and in next three years, it would hit 500,000bpd.
Renaissance has however revealed the secret behind the rapid success by Nigerians where outsiders may not have succeeded.
The strategies and maybe secrets were unveiled at a sensitive forum, the annual lecture of the Nigerian Society of Engineers (NSE) held in Port Harcourt, Rivers Statr capital, south-south Nigeria, on Thursday, August 21, 2025, at the Golden Tulip event centre on Saro Wiwa Road in the Garden City.
The guest lecturer, Meshack Maichibi, a veteran production engineer with 32 versatile and global exposure, who is the Chief Production Oficer (CPO) of Renaissance, gave out the strategies.
He hinted that the team that braved the odds to buy SPDC (Shell’s onshore assets) at $2.4bn studied why most other buyers of international oil companies (IOCs) dimmed in production soon after. They saw the flaw.
In correcting this flaw, Renaissance chose not to sack workers to bring in people or relations but did staff retention. He said: “Renaissance did not do what others who bought such oil companies did. Others drove away the staff they met, and production went down. Those staff they drove away were trained personnel that had formed the core of their human capital asset base. Our own strategy was: receive safely, consolidate, grow.”
The elite audience that attended the annual lecture seemed to listen with rapt attention because of the sensitivity of the topic: ‘Transition Management: Renaissance Case Study’. Maichibi who is reputed to have bagged a Distinction in Production Engineering in the University, was introduced as one with 32 years in oil and gas industry especially at Odidi Oil Well section. He was said to be trusted to work in Malaysia on turn-around mission, a feat for Nigerian engineering prowess.
The expert opened up saying Renaissance is the future; and that it is built in Nigeria for Africa.
He made it clear that every transition carried risks, but that it is good to take risk but risktakers must learn to put mitigations in case of failure so that ‘when you fail, you fail safe’.
He mentioned the company’s best attributes as capacity-building because machines will not operate themselves.
Giving the story of Renaissance, he traced it to when Shell discovered oil in Nigeria in 1956. He said it recently decided to go offshore and so started divesting. “Some four Nigerians reasoned it and came together and said, let us be bold enough to buy SPDC. It looked like a small rat trying to buy an elephant.”
In 2024, he stated, the FG approved the acquisition plan and discussions went on. On March 13, 2025, the deal was sealed: SPDC out, Renaissance in.
The huge acquisition came with big positive implications: Increasing ownership by Nigeria and Nigerians. The new team decided to create set of objectives such as to touch lives even elsewhere. “In fact, we have a consultant that is looking at other areas of investment
“We are very careful in what we do because we have no roof over our heads since Renaissance is all and all, not like SPDC that has Shell over them.”
He mentioned the negatives such as litigations (which he said they were resolving) old equipment etc.
Maichibi took time to show how culture shift occurred. “SPDC and Renaissance do not operate with same cultural backgrounds. Renaissance is a Nigerian company and we recognize the culture of host communities and the corporate Nigeria. We take these into consideration such as how to visit a king, the festivals of the host communities, etc. Before, any little move would offend the monarch who would think we were impudent, not knowing that it is culture difference. Now, there is a culture shift.”
He said the oil industry is bracing up with some new regulations such as some stringent plans. He said oil companies must meet up or face penalties.
He made it clear that buying Shell was not end of the matter. “Its not yet Uhuru. We bought SPDC with $2.4bn. We must recover this money and make profit. We must achieve business continuity; remember safely receive, stabilize, and grow. It’s not to receive and scatter. We received 34 facilities, 18 oil wells.
“We met 133,000bpd in march 2025 when we took over, but by June 2025 we added 100,000bpd to 330,000bpd.”
He explained how this was done. “This is because we are Nigerians and era of taking orders from the top is gone. SPDC had more concern for gas and less crude, and the gas was for NLNG for export to Europe for use in winter, but the new focus is for domestic gas.”
He further stated that April 12, 2025 was day for the first time that all pipelines were working. He said one day, they achieved 239,000 barrels.
He went on: “SPDC has its areas of focus, Renaissance is changing the focus and the narrative. We build capacity across field, now we want to bring young ones (engineers) to continue where we stop, when we are no more because oil will still run to the next 40 to 50 years.”
Mentioning some areas of continuity, Maichibi said: “In SPDC and now Renaissance, we care for capacity and character. Its not about first class from the University but about capacity, responsibility, and relationship. Some people enter with first class but exit the company fast.”
Giving hint about how the transition is going on, he said reward system is key. “We recognize and reward those who can ‘do it yourself’ (DIY). Some persons have already been rewarded for great initiatives that saved situations or earned money for the nation.
“Four major instances where young engineers took initiatives even when it was not their duty, they did not want to wait till the right persons or contractor to do it. One of such initiatives saved N200m per day.
“A young engineer took initiative to reopen a station that was idle. The team at Bonga oil field saved oil worth $80,000 per day with initiative. These were given special recognition awards.”
He talked about building trust with key stakeholders. “We went round and briefed the staff to understand us and buy into the Renaissance dream. We also talked to all segments of the stakeholders, staff, visited NNPC, ministers, etc and told them we are Nigerians, we need your support to succeed. We have to build financial stability and attraction.”
He further revealed what he called success factors. “Sense of urgency: We communicated sense of urgency and why transition took place. We must now move to transformation. We realis ethers is high death rate in certain parts of the oil region due to smoke from cooking. We are in a hurry to provide alternative cooking methods being gas in homes.
“Next, we want to build a coalition to forge a strong team. Also, we have to consider vision with core values, securing the energy future. Contractors are now called partners. We will deliver together. The fourth point is integrating our value chain so we can make profit. Respect is key factor. We do not want people to say oh, Shell has gone, things will change for the worse. Not at all. Good things will go on. Some of those good values from the past that will go on include:
“Safety: As a policy, we do not want to be the one to announce to a family that their loved one was no more from work place accident or injury. So, all hands on deck to maintain safety.
“Performance: You must get what you need to deliver on any task you are given.”
Nigerian engineers are great:
He spoke glowingly about Nigerians engineers out there in the field, saying they are the ones making things happen. “They are the ones delivering the new targets. We will continue with them and even employ more. They have earned their place in the new scheme of things.”
Talking about targeting 500,000bpd in next three years as part of the transition plan. Maichibi reassured Nigerians saying oil is there in the ground. “Its just to bring it out. Renaissance is not a small entity in another very big entity. Renaissance is on its own, growing big. We want to set up our own systems and targets. We are proud that Nigerians are performing. We have free hand to work.”
He mentioned some obstacles but said they are creating processes to mitigate them. “We have some obstacles and we are working to solve them. For instance, we are doing IT Training in South Africa. Our people now creat the IT systems.
“We are cutting costs through revised cost calculation methods. We no longer add costs from outside. Stakeholders are now happy to receive us and we deliver clear communication with staff, external partners, etc. There are monthly reviews, monitoring, etc, and we celebrate successes.”
As advice to the oil industry, the CPO said: “Any transition you want to do, carry your people along. Monitor and adjust where necessary.”
He announced that Renaissance has already won four awards from very important places since inception. “In July, we made daily production of 232,000bpd and met huge gas targets too. Please, help us to meet this target. We will keep developing capacity. Will look at registered engineers with the NSE for recruitment. We will put environment into serious consideration.”
He talked of Community inclusion as key policy. “We are serious with HCDTF with 3%. We must tell our people that 3% is no small money, especially for oil companies with up to $500m operational capital in one year.
“AFRICA: we are telling other African countries to brace up. They do not need to sit and look. We are not only looking at 500,000bpd in three years, we target 1bcf of domestic gas, and strength in export gas, too. Change has process, follow it.”
In her welcome remarks, Idaeresoari Harriet Ateke, the chairman of the NSE, Port Harcourt Branch, pleaded with successful engineers to help absorb young engineers pouring out of the universities to remove what may become embarrassing.
She said many engineers have become street mechanics and that this must be prevented to sustain the honour and integrity in the engineering profession. “It is an eyesore seeing engineers doing mechanic work.”
She noted that the awards were created to recognize those that consistently supported the engineering profession especially in the Port Harcourt zone as well as those that sponsored the major events in the past three years.
In his brief remarks, Igo Aguma, one of the top general managers in Renaissance, who was represented by Osita Nnajiofor, Belema Asset Manager for Renaissance, confirmed that the company once hit 239,000 barrels in one day, attributing this to what he called clear leadership.
He also affirmed that the company has adopted ‘Do It yourself’ ideology so that engineers could feel free to show initiative when they face field challenges.
Speaking, Innocent Akuvue, CEO of GGI International, who also received an award as a tested sponsor, said there was fear in the industry that the new buyers of SPDC might introduce owing contractors, but that such has not been the case. “We can see where renaissance is headed to, and we are glad that production is rising steadily”.
The 2025 annual lecture seemed to throw bright light in the dark tunnel in the oil/gas industry, showing professionals, suppliers, equipment manufacturers and local content practitioners where the future lies.
