Seplat, Fastest Growing Nigerian Independent Energy Company – Energy Times

Seplat Energy Plc has been recognized as the Fastest Growing Nigerian Independent Energy Company for the 2024 business year by Energy Times Newspaper.

The publication announced Seplat Energy as the winner of the awards at its prestigious Energy Times Awards held in Lagos at the weekend.

Energy Times is a leading weekly newspaper based in Lagos, Nigeria, focusing on oil, gas, power, maritime and renewable energy reportage.

According to the Publisher/Editor-In-Chief of the newspaper, Mr. Kayode Ekundayo, the award is hinged on Seplat Energy’s completion of its acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil Corporation, now renamed Seplat Energy Producing Nigeria Unlimited (SEPNU).  The transaction, which has been widely described as transformative for the company, will see it more than double its current production.

“This feat has, indeed, reaffirmed Seplat Energy’s position as a leader in the Nigerian indigenous independent energy space with remarkable growth in business and assets,” Ekundayo said.

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, as at the time of Change-In-Control (CiC).

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 transitioning to the Seplat Group – making the Company one of the fastest growing companies in the globe.

Seplat Energy was represented at the Energy Times Awards ceremony by the General Manager, Partner Relations, Mrs. Grace Amadi; and Manager Corporate Communications, Mr. Stanley Opara.

Commenting on the award, Mrs. Amadi lauded the Energy Times team for recognizing Seplat Energy for its sustained drive and achievements. According to her, the recent acquisition has positioned the Company to drive growth and profitability, whilst contributing significantly to Nigeria’s future prosperity.

The award ceremony had in attendance other energy companies (oil & gas, renewables and power), service companies, banks, regulators, national oil company, academia and the media.