By Victor Uchechukwu
Seplat Energy Plc, leading Nigerian Energy Company listed on both the Nigerian Exchange Limited and the London Stock Exchange, has received wide recognition from the Nigerian energy industry and other international stakeholders on the recent completion of acquisition of Mobil Producing Nigeria Unlimited (MPNU).
Seplat Energy now rechristened Seplat Energy Producing Nigeria Unlimited (SEPNU), by virtue of its completion of the acquisition Mobil from ExxonMobil in December 2024.
This stride got the applause of energy stakeholders who gathered in Abuja for the Nigeria International Energy Summit (NIES), 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.
NIES organizers had described the deal as “transformative” for Seplat Energy in particular and Nigeria and its people as a whole. This is while lauding Seplat Energy for its determination, focus and commitment to all stakeholders.
In his remarks, the Seplat Energy CEO, Mr. Brown thanked the government and affected ministries for supporting the transaction until its conclusion.
According to him, the company’s mission is to deliver value to all its stakeholders and Nigerians while holding in high esteem the need for valuable relations.
The acquisition according to an email statement has the capacity to more than doubling production and positioning Seplat Energy to drive growth and profitability, while contributing significantly to Nigeria’s future economic growth.
The Company said the completion of the acquisition has added more impetus as the company can now boast of a wider equity in 11 blocks (onshore and shallow water Nigeria), having 48 producing oil and gas fields, 5 gas processing facilities, and 3 export terminals.
The acquisition of the entire issued share capital of MPNU has also added the following assets to the Seplat Portfolio: 40% operated interest in OML 67, 68, 70 and 104; 40% operated interest in the Qua Iboe export terminal and the Yoho FSO; 51% operated interest in the Bonny River Terminal (‘BRT’) NGL recovery plant; 9.6% participating interest in the Aneman-Kpono field; and approximately 1,000 staff and 500 contractors have transitioned to the Seplat Group.