Seplat targets gas export to boost FX earnings

Seplat Energy Plc, says it will start exporting gas to enhance foreign exchange (FX) earnings and deliver greater value to stakeholders.

Mr Dotun Isiaka, Managing Director of Seplat Producing Nigeria Unlimited (SEPNU), disclosed this during a panel session organised by the Petroleum Technology Association of Nigeria (PETAN) at the ongoing Offshore Technology Conference (OTC) 2025 in Houston, Texas, U.S.

The session, moderated by Mr Austin Avuru, Executive Chairman of AA Holdings, focused on Seplat’s future in Nigeria’s gas sector.

According to him, this follows its recent acquisition of Mobil Producing Nigeria Unlimited (MPNU), which holds significant gas reserves capable of serving both export and domestic markets.

In his remarks, Isiaka said, “The answer is really simple, we are focused on both domestic supply and export.

“However, let me emphasise that Seplat is committed to energy access for all Nigerians. We believe gas should be the primary driver of the nation’s economy.”

He underlined the importance of indigenous leadership in the sector, stating that expertise must be built from within.

“Seplat is at the forefront, playing a leadership role. But this requires collaboration across the entire value chain,” he said.

Providing an update on Seplat’s gas reserves and production, Isiaka explained, “Onshore, we currently have a combined processing capacity of around 550 million standard cubic feet per day (MMscfd) between the Oben and Sapele gas plants.

“However, we’re pushing about 200 million cubic feet short of that capacity, so we need to bring in more gas from nearby suppliers.”

He also mentioned that the ANOH Gas Plant, with a processing capacity of 300 MMscfd, was essentially complete.

“While our initial plan was to channel ANOH’s output to the domestic market, in the near term we may need to explore alternative off-take options, including export,” he noted.

Speaking about the recently acquired MPNU assets, Isiaka revealed that they contain over 14 trillion cubic feet (TCF) of gas, with infrastructure already in place to support processing and distribution.

“These reserves are near existing infrastructure, including three compression hubs with a combined capacity of 1.7 billion cubic feet per day.

“The key requirement is upstream investment to extract and transport the gas to these facilities, followed by pipeline delivery to shore,” he added.

Isiaka explained that there was sufficient gas to meet both domestic demand and export obligations.

“We have enough resources to serve both markets effectively,” he said.