Renaissance Africa Energy CEO Says AI Can Revive 300 Abandoned Oil Wells in Niger Delta
By Naija Enquirer Staff
The Managing Director and Chief Executive Officer of Renaissance Africa Energy Company Limited, Mr Tony Attah, has expressed confidence that artificial intelligence (AI) can unlock fresh value from more than 300 oil wells currently earmarked for abandonment in Nigeria’s Niger Delta.
Speaking at the PwC BusinessDay Outlook event, Attah said AI-powered reinterpretation of seismic data could reveal bypassed hydrocarbon reserves that were previously undetectable using conventional exploration techniques.
“Can you imagine a scenario where I deploy AI, and I can see clearly all I need to do is go back into those wells, sidetrack, and I’m back again,” he said, describing what he termed the “first value” proposition of AI in upstream oil and gas operations.
He explained that early oil discoveries in the Niger Delta were largely based on two-dimensional seismic interpretations in the 1970s and 1980s, before the industry transitioned to three-dimensional seismic technology, which subsequently unlocked additional reserves and extended the productive life of ageing fields.
“Fields that were predicted to have died 20 years ago are still producing,” Attah noted. “Within the limits of technology of the past, we have bypassed significant reserves.”
According to him, Renaissance Africa currently holds vast volumes of legacy seismic data that could be re-analysed using machine learning algorithms capable of detecting patterns and anomalies invisible to traditional computational methods.
Beyond reserve identification, Attah highlighted AI’s ability to accelerate operational decision-making in an industry where timing often determines project success or failure.
“AI for me is around the speed of decision, the value add, narrowing time to that decision,” he said.
However, the CEO acknowledged significant concerns around data security and intellectual property risks, revealing that the company is preparing what could become an industry-first AI governance framework.
“One of the risks that I worry about is people running my business on ChatGPT,” Attah said, warning that indiscriminate use of public AI tools could expose sensitive corporate data and erode competitive advantage.
“All that needs to happen is someone in Malaysia asks, ‘Can you tell me Renaissance, this and that?’ And your competitive edge is gone,” he added.
Attah disclosed that Renaissance Africa plans to present its AI governance policy to its board in March, noting that his IT team has advised caution, even as he remains optimistic about the technology’s transformative potential.
“They keep telling me to slow down, slow down,” he said. “But I am very, very optimistic if anything, super excited about what AI can deliver for the energy industry.”
