Seplat named fastest-growing Nigerian energy firm

The Energy Times newspaper has named Seplat Energy Plc the fastest-growing Nigerian independent energy company for the 2024 business year.

The firm bagged the award at the Energy Times Awards, held in Lagos to honour excellence in the energy sector.

Energy Times is a weekly Lagos-based publication focused on oil, gas, power, maritime, and renewable energy reporting.

Mr Kayode Ekundayo, Publisher, Energy Times, said the award recognised Seplat’s acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil Corporation.

The acquired entity has been renamed Seplat Energy Producing Nigeria Unlimited (SEPNU), marking a major milestone for the company.

Ekundayo noted the acquisition will more than double Seplat Energy’s current oil and gas production capacity.

“This milestone reaffirms Seplat’s leadership in Nigeria’s indigenous energy space, showcasing impressive growth in both business operations and asset portfolio,” he said.

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

Mrs Amadi expressed appreciation to Energy Times for recognising Seplat’s achievements and commitment to long-term growth.

She added that the acquisition strengthens the company’s ability to drive profitability and support Nigeria’s economic future.

The completed transaction gives Seplat equity in 11 oil blocks, 48 producing fields, 5 gas processing facilities, and 3 export terminals in Nigeria.

Assets added to Seplat’s portfolio include 40 per cent operated interest in OML 67, 68, 70, and 104; plus the Qua Iboe terminal and Yoho FSO.

Also included: 51 per cent interest in the Bonny River Terminal NGL plant; 9.6 per cent in the Aneman-Kpono field; and around 1,000 staff and 500 contractors.