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By Adewale Sanyaolu
Seplat Energy Plc has highlighted steps being considered to improve energy efficiency and add value towards increasing Nigeria’s crude oil production capacity.
Seplat Energy’s Chief Executive Officer, Mr. Roger Brown, gave the highlights at the Nigeria International Energy Summit (NIES) in Abuja which ended in Abuja at the weekend.
Brown, who was honoured with an award at the event said the recent completion of the acquisition of Mobil Producing Nigeria Unlimited (MPNU), has the capacity of more than doubling production and positioning Seplat Energy to drive growth and profitability, whilst contributing significantly to Nigeria’s future prosperity.
He added that the deal has created Nigeria’s leading independent energy company, with the enlarged company having equity in 11 blocks (onshore and shallow water Nigeria); 48 producing oil and gas fields; 5 gas processing facilities; and 3 export terminals. The acquisition of the entire issued share capital of MPNU adds the following assets to the Seplat Group: 40 per cent operated interest in OML 67, 68, 70 and 104; 40 per cent operated interest in the Qua Iboe export terminal and the Yoho FSO; 51 per cent operated interest in the Bonny River Terminal (‘BRT’) NGL recovery plant.
Others are 9.6 per cent participating interest in the Aneman-Kpono field; and approximately 1,000 staff and 500 contractors have transitioned to the Seplat Group.
This strongly connects to Seplat Energy’s mission of delivering value to all its stakeholders, and building a sustainable business that can deliver affordable, accessible and reliable energy for Nigeria, he said.
Seplat Energy completed the deal on the acquisition of MPNU – renamed Seplat Energy Producing Nigeria Unlimited (SEPNU) from ExxonMobil in December 2024.
The NIES is the official energy industry event of the Federal Government of Nigeria endorsed at the Federal Executive Council. It is the global platform for stimulating discussions, interactions signing of high-level deals.
The organisers of the NIES described the deal completion as transformative for Seplat Energy, Nigeria and the Nigerian people whilst lauding Seplat Energy for its determination, focus and commitment to all stakeholders.
Brown thanked President Bola Ahmed Tinubu, for supporting the transaction, and appreciated the support and diligence of the various Ministries and regulators for all the work to reach a successful conclusion.
According to him, the company’s mission is to deliver value to all its stakeholders, as it treasures the good relationships that have been developed with the government, regulators, communities and staff.
