By Edu Abade
Following its successful acquisition of Mobil Producing Nigeria Unlimited (MPNU) in December 2024 and the accolades it has received from the Nigerian International Energy Summit (NIES) and New Telegraph award for ‘Deal of the Year’, Seplat Energy Plc has hinged its growth and expansion on strategic planning, governance and people, among other factors that comply with international best practice in the oil and gas industry.
Nigeria’s leading indigenous energy company, Seplat Energy Plc, has attributed its exponential growth and expansion over the years to well thought-through strategies, strong governance practices and dedicated people, stressing that the quest to develop Nigeria and the support from the Nigerian government remain very cardinal.
Chief Executive Officer of Seplat Energy, Mr. Roger Brown, said this while speaking on a panel session at the Nigerian International Energy Summit (NIES) in Abuja with the theme: Transformative Deals and Nigeria’s Upstream Future.
Brown said the opportunities in Nigeria are very vast, especially sub-surface opportunities, maintaining that Seplat Energy remains committed to harnessing these opportunities and driving transformation in Nigeria’s energy sector.
“With these asset acquisitions coming through, it is a new dawn for Nigeria and the Nigerian people. It is an opportunity to develop and transform Nigeria and the Seplat Energy Group will be a dominant player in this space.
“We have the right strategies, people and a very strong corporate governance stance; and Seplat Energy is already collaborating and aligning with relevant stakeholders,” he stated.
With the acquisition of Mobil Producing Nigeria Unlimited-renamed Seplat Energy Producing Nigeria Unlimited (SEPNU), the oil and gas giant is now one of the largest oil and gas producers in Nigeria, and as a partner to government, the company is aligned with its drive to increase oil and gas production in the national interest.
Brown said Seplat Energy has proved itself to be a highly credible operator and a good steward of Nigeria’s natural resources, adding: “We have been operating for more than 15 years and our dual listing in 2014 showed that international financial markets had confidence in the company and its business model. This is because we’ve proven ourselves to be very capable of acquiring assets and improving their production, which benefits everyone in Nigeria.”
Seplat Energy implements best-in-class Well Reservoir and Facility Management (WRFM) practices, he noted, explaining that the company has continued to adopt strategies that help to optimize Short Term Oil Generation (STOG) and maximize returns from new wells, which have helped to save the cost and time of having to carry out workovers that target stranded opportunities; whilst maximizing value from new drills.
Brown maintained that the enormous gas resources in the Seplat Energy Group’s asset portfolio provide a huge opportunity to boost Nigeria’s electricity generation and lead transformation and development of the country.
“We have a strong commitment to sustainability and sound governance and we believe this is important to IOCs when they divest assets. We are a listed company bound by strong sustainability and governance demands of regulators and investors in Nigeria and elsewhere and so there is a high degree of assurance that we will be very transparent about what we do with these assets and how we look after the environment,” he added.
Meanwhile, the company has received accolades from the Nigerian energy industry and other international stakeholders for its recent completion of the MPNU acquisition.
Energy stakeholders applauded the Company at the ongoing Nigeria International Energy Summit (NIES) in Abuja, where Seplat Energy’s Chief Executive Officer, Mr. Roger Brown, was honoured with an award.
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 while lauding Seplat Energy for its determination, focus and commitment to all stakeholders.
In his remark, 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.
The acquisition 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.
The completion of the acquisition 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; five gas processing facilities and three export terminals.
The acquisition of the entire issued share capital of MPNU adds the following assets to the Seplat Group: 40 percent operated interest in OML 67, 68, 70 and 104; 40 percent operated interest in the Qua Iboe export terminal and the Yoho FSO; 51 percent operated interest in the Bonny River Terminal (‘BRT’) NGL recovery plant; 9.6 percent 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.
Seplat Energy Plc had earlier clinched the ‘Deal of the Year’ Award at the recently held New Telegraph Newspaper Awards.
Seplat Energy completed the deal on the acquisition of MPNU
The Award ceremony was not just a ceremony but a heartfelt tribute to outstanding organisations and individuals that have made significant contributions across various sectors, including governance, business, education, and technology. The event honoured those who have excelled in their fields and inspired others through their work.
In his remarks, the Managing Director and Editor-in-Chief of the New Telegraph Newspaper, Ayodele Aminu, said: “We celebrate not just achievements but the transformative power of love, dedication to work, those who have transcended expectations, those who have defied barriers and inspired digital growth and made extraordinary waves and impact in their various fields.”
Aminu, who urged the awardees to continue to push boundaries and inspire others for greater heights, added: “The true essence of these awards lies not in accolades or trophies, but in the enduring impact of each orgnanisation and individual’s contributions.”
The MPNU deal was transformative for Seplat Energy, with the capacity of more than doubling production and positioning the Company to drive growth and profitability, whilst contributing significantly to Nigeria’s future prosperity.
The completion of the acquisition 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; five gas processing facilities; and three export terminals.
The acquisition of the entire issued share capital of MPNU adds the following assets to the Seplat Group: 40 percent operated interest in OML 67, 68, 70 and 104; 40 percent operated interest in the Qua Iboe export terminal and the Yoho FSO; 51 percent operated interest in the Bonny River Terminal (‘BRT’) NGL recovery plant; 9.6 percent 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.
Responding, Seplat Energy commended the New Telegraphy Newspapers for its recognition whilst lauding the Newspaper’s commitment to excellence and professionalism, adding: “At Seplat Energy we are proud of the contributions we can make to improving affordable energy access for Nigerians through the safe, responsible development of Nigeria’s oil and gas reserves.”
