Seplat Energy Plc is a leading Nigerian independent energy company listed on both the premium board of the Nigerian Exchange and the main board of the London Stock Exchange with a strategic focus on the Niger Delta of Nigeria.
Seplat Energy was formed in June 2009 through the partnership of Shebah Petroleum Development Company Limited and Platform Petroleum Joint Ventures Limited to specifically pursue upstream oil and gas opportunities in Nigeria and in particular, divestment opportunities arising out of the incumbent Major IOC’s portfolios.
In July 2010, Seplat Energy acquired a 45 percent participating interest in, and was appointed operator of, a portfolio of three onshore producing oil and gas blocks in the Niger Delta (OMLs 4, 38 and 41) which include numerous producing fields and future development opportunities. Through the implementation of a focused re-development work programme and extensive drilling campaigns, Seplat Energy subsequently grew oil production from 14,000bopd to a peak rate of over 84,000bopd and had almost doubled its remaining reserves as at end 2015. In June 2013, Seplat Energy acquired a 40% participating interest in the Umuseti/Igbuku marginal fields within OPL 283 and in February 2015 acquired a 40% participating interest in OML 53 and a revenue interest in OML 55.
In December 2019, Seplat Energy completed the acquisition of Eland Oil and Gas, an AIM listed independent oil and gas company focused on production, development and exploration in Nigeria. Eland in 2012, completed the acquisition of a 45% equity stake in OML 40 and in 2014 acquired a 40% stake in a second licence, Ubima.
Alongside its oil business, the Group has also successfully begun to develop and monetise the substantial gas reserves that exist in its blocks. In 2015, Seplat Energy installed and commissioned a new 150MMscfd gas processing facility at its Oben hub, taking gross processing capacity from 150MMscfd to 300MMscfd. In Q4 2017, SEPLAT commissioned an additional 225MMscfd gas processing plant, bringing total gas processing capacity to 525MMscfd.
Seplat Energy has also embarked on a new project to replace its existing 60MMscfd gas processing plant in Sapele with a new 75MMscfd gas processing plant to be commissioned in Q4 2020 which will further raise its total gas processing capacity to 540MMscfd.
In January 2017, the Group incorporated a new subsidiary, ANOH Gas Processing Company (AGPC) Limited, a midstream gas company committed to the processing of gas from OML 53 for distribution to the local market. In August 2018, the Group entered into a shareholder agreement with Nigerian Gas Processing and Transportation Company (NGPTC) to subscribe for equal ownership of AGPC.
Seplat Energy is the leading supplier of natural gas to the domestic market and is helping to address a major obstacle facing the Nigerian economy today – access to reliable, affordable power.
As Nigeria’s leading indigenous energy Company, Seplat Energy is committed to delivering positive impact through its operations. We have built strong relationships with our key local communities, promoting trust and confidence amongst our various stakeholders, ultimately resulting in a stable operating environment that facilitates the creation of shared value.
Seplat Energy remains committed to its mission of sustainably delivering profitable, diversified energy solutions through operational excellence, skilled workforce and effective partnership.