Seplat Energy’s Landmark Acquisition Deal Wins Big at NIES, Earning High Praise from Industry Stakeholders

The energy sector erupted in celebration at the Nigeria International Energy Summit (NIES) in Abuja, where industry leaders and global stakeholders recognized Seplat Energy’s strategic vision and execution. The company’s Chief Executive Officer, Mr. Roger Brown, was on ground to physically receive the prestigious award, which further cements Seplat Energy’s leadership in the industry.

Seplat Energy Plc, a powerhouse in Nigeria’s energy sector listed on both the Nigerian Exchange Limited and the London Stock Exchange, late 2024 achieved a major milestone with its successful acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil, now renamed Seplat Energy Producing Nigeria Unlimited (SEPNU). This historic deal, completed in December 2024, has been hailed as a transformational leap for the company and Nigeria’s energy landscape.

NIES, the flagship energy event endorsed by the Federal Executive Council of Nigeria, provided the perfect stage for this groundbreaking achievement. Organizers, Special Guests and Attendees lauded Seplat Energy’s unwavering determination, focus, and commitment, describing the acquisition as a game-changer for Nigeria’s energy security and economic growth.

In his remarks, Mr. Brown expressed deep gratitude to President Bola Ahmed Tinubu GCFR for his steadfast support in facilitating the transaction. He also acknowledged the diligent efforts of ministries and regulators who played a crucial role in bringing the deal to fruition.

Reinforcing Seplat Energy’s mission, Brown emphasized the company’s dedication to delivering exceptional value to all stakeholders while fostering strong relationships with the government, regulators, communities, and employees.

The impact of this acquisition is staggering.

Seplat Energy is now Nigeria’s leading independent energy company, doubling its production capacity and solidifying its position as a key driver of growth and profitability.

The expanded entity now boasts equity in 11 oil blocks (onshore and shallow water), 48 producing oil and gas fields, five gas processing facilities, and three export terminals—setting the stage for unprecedented industry influence.

By acquiring the entire issued share capital of MPNU, Seplat Energy has integrated a formidable portfolio, including:

• 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
• Seamless transition of approximately 1,000 staff and 500 contractors into the Seplat Group

This transformational deal underscores Seplat Energy’s relentless pursuit of excellence and sustainability. As the company continues to build a future of affordable, accessible, and reliable energy for Nigeria, it stands as a beacon of innovation and resilience in Africa’s energy sector.