Yemisi Izuora
Seplat Energy Plc, has attributed its exponential growth over the years to well thought-through strategies, strong governance practice and dedicated people, stressing that the quest to develop Nigeria and the support from the Nigerian government remain very cardinal.
The Chief Executive Officer, Seplat Energy, Mr. Roger Brown, said this whilst speaking on a panel session at the Nigerian International Energy Summit (NIES) in Abuja dubbed ‘Transformative Deals and Nigeria’s Upstream Future’.
Brown said the opportunities in Nigeria were very vast, especially sub-surface opportunities, and Seplat Energy remained committed to harnessing these opportunities and driving transformation in Nigeria.
“With these asset acquisitions coming through, it is a new dawn for Nigeria and the Nigerian people. It is an opportunity to develop and transform Nigeria; and the Seplat Energy Group will be a very dominant player in this space,” Brown said.
“We have the right strategies, people and a very strong corporate governance stance; and Seplat Energy is already collaborating and aligning with relevant stakeholders,” he added.
With the acquisition of Mobil Producing Nigeria Unlimited – renamed Seplat Energy Producing Nigeria Unlimited (SEPNU), Seplat Energy is now one of the largest oil and gas producers in Nigeria, and as a partner to government, the company is aligned with its drive to increase oil and gas production in the national interest.
According to Brown, Seplat Energy has proved itself to be a highly credible operator and a good steward of Nigeria’s natural resources. “We have been operating for more than 15 years and our dual listing in 2014 showed that international financial markets had confidence in the company and its business model. This is because we’ve proven ourselves to be very capable of acquiring assets and improving their production, which benefits everyone in Nigeria.”
Seplat Energy implements best-in-class Well Reservoir and Facility Management(WRFM) practices, he noted, explaining that the company has continued to adopt strategies that help to optimize Short Term Oil Generation (STOG) and maximize returns from new wells, which have helped to save the cost and time of having to carry out workovers that target stranded opportunities; whilst maximizing value from new drills.
Brown maintained that the enormous gas resources in the Seplat Energy Group’s asset portfolio, provide a huge opportunity to boost Nigeria’s electricity generation and lead transformation and development of the country.
The Seplat Energy CEO added: “We have a strong commitment to sustainability and sound governance and we believe this is important to IOCs when they divest assets. We are a listed company bound by strong sustainability and governance demands of regulators and investors in Nigeria and elsewhere, and so there is a high degree of assurance that we will be very transparent about what we do with these assets and how we look after the environment.”