Seplat Energy Plc has announced the successful completion of its acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil.
Describing the transaction as transformative, the company highlighted its potential to more than double production capacity, drive growth and profitability, and significantly contribute to Nigeria’s economic prosperity.
In a statement, Seplat Energy Plc declared, “The completion of this acquisition has created Nigeria’s leading independent energy company. The expanded company now holds equity in 11 blocks (onshore and shallow water Nigeria), operates 48 oil and gas fields, manages five gas processing facilities, and oversees three export terminals.”
The acquisition adds the following assets to Seplat Energy’s portfolio:
- 40% operated interest in OMLs 67, 68, 70, and 104.
- 40% operated interest in the Qua Iboe export terminal and Yoho FSO.
- 51% operated interest in the Bonny River Terminal (BRT) NGL recovery plant.
- 9.6% participating interest in the Aneman-Kpono field.
- Approximately 1,000 staff and 500 contractors transitioning to Seplat Energy.
Leadership Comments
Chairman of Seplat Energy, Udoma Udo Udoma, welcomed MPNU employees to the company, stating, “We are thrilled to expand into a new region of the country and aim to replicate the positive community impacts achieved in our current operational areas. Our mission remains to deliver value to all stakeholders while fostering strong relationships with the Government, regulators, communities, and staff.”
Chief Executive Officer Roger Brown expressed gratitude to the Seplat team for their dedication in completing the deal. He remarked, “This acquisition represents a landmark in Seplat Energy’s history. MPNU brings a portfolio of world-class assets and infrastructure, offering immense potential for growth. Our focus will be on boosting oil and gas production, reducing costs and emissions, and delivering sustainable value to all stakeholders.”
Brown further emphasised the strategic alignment of MPNU with Seplat’s goal to provide affordable, reliable, and sustainable energy for Nigeria, while ensuring attractive returns for shareholders.