Energy industry hails Seplat’s acquisition deal at NIES
Leading Nigerian energy company, Seplat Energy Plc, has received wide recognition from the Nigerian energy industry and other international stakeholders for its recent completion of the Mobil Producing Nigeria Unlimited (MPNU) acquisition.
Upon completion of the acquisition, Seplat Energy which is listed on both the Nigerian Exchange Limited and the London Stock Exchange had in December 2024 renamed MPNU to Seplat Energy Producing Nigeria Unlimited (SEPNU).
The 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 whilst lauding Seplat Energy for its determination, focus and commitment to all stakeholders.
In his remark, the Seplat Energy CEO, Mr. Brown thanked President Bola Ahmed Tinubu GCFR, 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; 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% 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.
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.
