Seplat Energy Plc said it will invest heavily in Nigeria in the coming years, following the acquisition of ExxonMobil’s shallow-water assets.
The deal moved Mobil Producing Nigeria Unlimited into Seplat’s portfolio. Chief Executive Roger Brown called the acquisition a turning point that strengthens the company’s role in Nigeria’s oil and gas industry.
Brown explained at the Capital Markets Day that the transaction has made Seplat broader, stronger, and more balanced.
Seplat set out a roadmap that focuses on channeling new investment into ExxonMobil’s former assets, with the aim of steadily increasing production through the end of the decade.
The company noted that most of the funds will go into oil projects such as new wells and offshore facilities. A portion will support gas development, while the rest will maintain safety, reliability, and sustainability.
This plan aligns with Nigeria’s effort to raise oil output and improve gas supply. Seplat positioned itself as an important partner in helping meet these national goals.
Since completing the acquisition, Seplat has reopened idle wells and lifted offshore production to its highest levels in recent years.
Oladotun Isiaka, head of Seplat’s offshore business, said the assets already had resources and skilled people but needed a committed operator, which Seplat now provides.
The expanded portfolio gives Seplat access to offshore leases, producing wells, pipelines, and stakes in export terminals.
source: businessday.ng
African Energy Council