Seplat Energy’s Landmark Acquisition of MPNU Receives Industry Acclaim at NIES

Historic Deal Earns Seplat Energy Recognition at Nigeria International Energy Summit

Seplat Energy Plc, a leading Nigerian energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, has been widely celebrated for its successful acquisition of Mobil Producing Nigeria Unlimited (MPNU). This milestone deal, completed in December 2024, has cemented Seplat Energy’s position as Nigeria’s foremost independent energy company.

At the ongoing Nigeria International Energy Summit (NIES) in Abuja, industry stakeholders applauded Seplat Energy’s bold expansion move, culminating in the company’s Chief Executive Officer, Mr. Roger Brown, receiving a prestigious award. The recognition underscores the strategic importance of the transaction, which sees MPNU rebranded as Seplat Energy Producing Nigeria Unlimited (SEPNU) following its acquisition from ExxonMobil.

A Transformative Moment for Nigeria’s Energy Sector

The NIES, officially endorsed by the Federal Executive Council, serves as a premier platform for global energy discourse, high-level deal-making, and policy deliberations. The summit’s organizers hailed Seplat Energy’s successful transaction as a transformative step for the company, Nigeria’s energy landscape, and the wider economy. They commended Seplat Energy’s commitment to stakeholders, perseverance in closing the deal, and its strategic vision for the future.

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In his acceptance speech, Mr. Roger Brown expressed gratitude to President Bola Ahmed Tinubu GCFR for his unwavering support in facilitating the transaction. He also acknowledged the dedication of key ministries, regulatory bodies, and industry partners whose diligence helped bring the acquisition to fruition.

“Our mission is to create long-term value for all stakeholders,” Mr. Brown stated. “We deeply value our relationships with the government, regulators, host communities, and our staff, and we are committed to driving sustainable growth in Nigeria’s energy sector.”

Expanding Production, Driving Nigeria’s Prosperity

With this acquisition, Seplat Energy has more than doubled its oil and gas production capacity, significantly enhancing its profitability and strengthening its role in Nigeria’s energy security. The enlarged company now has equity in 11 oil blocks (onshore and shallow water Nigeria), 48 producing fields, five gas processing plants, and three major export terminals.

Key assets gained through the MPNU acquisition include:

• 40% operated interest in OMLs 67, 68, 70, and 104
• 40% operated stake 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
• Integration of approximately 1,000 staff and 500 contractors into the Seplat Group

The deal’s successful closure strengthens Seplat Energy’s mission of delivering affordable, accessible, and reliable energy while ensuring long-term sustainability and profitability.

This industry-defining acquisition positions Seplat Energy at the heart of Nigeria’s economic development, reinforcing its leadership in the energy sector and its commitment to shaping a more sustainable energy future.

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