Seplat Energy Plc has revealed plans to drill 17 new wells in 2026 to increase production, with the company aiming to reach output of up to 155,000 barrels of oil equivalent per day.
The company included this plan in its 2026 business strategy, which focuses on strengthening production and advancing its long-term 2030 output goals, according to its 2025 full-year report.
Seplat confirmed that the 2026 drilling program will cover 17 new wells, with most of the activity taking place onshore.
The report states that the program will include 15 onshore wells and two offshore wells.
The company also set its initial 2026 production guidance between 135,000 and 155,000 barrels of oil equivalent per day.
Seplat said its production outlook for 2026 falls within this range.
According to the report, onshore assets will contribute between 43 and 48 percent of total production, while offshore operations will account for between 52 and 57 percent.
Seplat explained that the drilling campaign forms part of a wider investment plan, with capital expenditure projected between $360 million and $440 million.
The company expects to split capital expenditure evenly between onshore and offshore operations.
Seplat said offshore drilling will involve a jack-up rig already operating in Nigeria as part of a multi-year drilling campaign.
The company confirmed that the Shelf Drilling Victory rig is currently in Nigeria and will begin the multi-well infill drilling programme in the third quarter.
Seplat added that offshore drilling in 2026 will focus on completing two new wells at the Oso field in Oil Mining Lease 70.
The company stated that its 2026 business plan prioritises maintenance and asset integrity activities needed to support long-term production growth.
Seplat expects gas and natural gas liquids to drive most production growth in 2026 as the ANOH gas processing plant increases operations and the first phase of the Oso expansion reaches completion.
The company said the Oso expansion will double its offshore gas sales capacity.
Seplat explained that growth will come from higher-value natural gas liquids and gas production as ANOH reaches full capacity and the Oso expansion phase concludes.
The company added that restoring idle wells and drilling new ones will support oil production growth, although planned maintenance and downtime at the Yoho field may affect output.
According to the report, Yoho production should resume in the second quarter of 2026 following a fire incident last year.
Seplat also expects strong growth in natural gas liquids production during 2026.
The company projects that NGL output at the midpoint of its guidance will rise by about 85 percent year on year after replacing the inlet gas exchanger at the East Area Project.
Seplat noted that improved NGL throughput will begin from the first quarter of 2026.
The company also anticipates significant growth in gas production, with midpoint guidance indicating a year-on-year increase of about 30 percent.
Seplat expects this growth to come from equity wet gas production from the ANOH project after its January 2026 start-up, alongside increased offshore gas sales from the third quarter following completion of the Oso-BRT Phase 1 expansion.
In terms of costs, the company projects unit operating costs between $13.5 and $14.5 per barrel of oil equivalent.
Seplat believes higher production levels will help lower unit operating costs compared with the previous year.
The company explained that stable operating costs combined with higher output will drive the expected reduction in unit costs.
However, Seplat warned that it will carry out partial shutdowns of offshore assets during the year to improve reliability and maintain asset integrity.
The company expects these shutdowns to occur mainly in the first and fourth quarters of 2026.
source: punchng.com
African Energy Council