Uche Cecil Izuora
Seplat Energy is closing discussions with options to divest into power sector to fully consolidate operations across the energy industry.
The Company according to information has outlined its intention to expand into the electricity sector as part of a long-term roadmap.
Chief Executive Officer (CEO) of Seplat Energy, Roger Brown, said the energy firm is focused on bolstering Nigeria’s energy sector by addressing the country’s power challenges.
He highlighted that this move follows Seplat’s recent acquisition of assets management from Mobil Producing Nigeria Unlimited (MPNU), which has doubled its reserves and expanded its footprint and diversified its portfolio across upstream and midstream sectors.
The acquisition led to the formation of Seplat Energy Producing Nigeria Limited, now overseeing offshore operations and two onshore terminals.
“This gives us a fully integrated value chain — from the wellhead to export via vessel — with Seplat in full control of operations. Our production has materially increased. We’ve moved from around 50,000 barrels per day to over 120,000 barrels per day. We are to say our workforce now includes around 1,500 professionals. The vast majority of whom are Nigerians.”
Brown also emphasised the potential of Nigeria’s abundant gas resources to address electricity issues, noting the company’s interest in deploying modular gas-to-power systems in rural areas.
“These will play a key role in solving last-mile electricity access problems.”
While Seplat has ambitions to expand into renewable energy and electricity generation, Brown noted that the company will, for now, maintain its focus on upstream oil and gas and midstream gas processing.