Seplat Energy’s acquisition deal gets industry recognition

Seplat Energy Plc has received widespread recognition from the Nigerian energy industry and international stakeholders for its recent acquisition of Mobil Producing Nigeria Unlimited (MPNU).

Seplat Energy completed the acquisition of MPNU now renamed Seplat Energy Producing Nigeria Unlimited (SEPNU) from ExxonMobil in December 2024.

Industry 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 honored with an award.

NIES is the official energy industry event of the Federal Government of Nigeria, endorsed by the Federal Executive Council. It serves as a global platform for stimulating discussions, fostering interactions, and signing high-level agreements.

The organizers of NIES described the acquisition as transformative for Seplat Energy, Nigeria, and its people, commending the company for its determination, focus, and commitment to all stakeholders.

In his remarks, Seplat Energy CEO, Mr. Brown, expressed gratitude to President Bola Ahmed Tinubu for supporting the transaction and acknowledged the diligence and support of various ministries and regulators in facilitating a successful conclusion.

He reiterated the company’s mission to deliver value to all its stakeholders, emphasizing the importance of maintaining strong relationships with the government, regulators, communities, and employees.

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The acquisition has the potential to more than double production capacity, positioning Seplat Energy for growth and profitability while making a significant contribution to Nigeria’s economic prosperity.

With the completion of the acquisition, Seplat Energy has become Nigeria’s leading independent energy company. The enlarged company now holds equity in 11 blocks (onshore and shallow water in Nigeria), operates 48 producing oil and gas fields, manages five gas processing facilities, and oversees three export terminals.

The acquisition of MPNU’s entire issued share capital adds the following assets to the Seplat Group:

• A 40% operated interest in OML 67, 68, 70, and 104
• A 40% operated interest in the Qua Iboe export terminal and the Yoho FSO
• A 51% operated interest in the Bonny River Terminal (BRT) NGL recovery plant
• A 9.6% participating interest in the Aneman-Kpono field
• Approximately 1,000 staff members and 500 contractors who have transitioned to the Seplat Group

This acquisition aligns with Seplat Energy’s mission to deliver value to stakeholders and build a sustainable business that provides affordable, accessible, and reliable energy for Nigeria.