Maurel & Prom SA (M&P), the Paris-listed oil and gas producer, has confirmed the sale of its entire 20.07% stake in Nigerian energy firm Seplat Energy Plc to Heirs Energies Ltd in a deal valued at $496 million. The transaction was officially announced on 31 December 2025 via a press release and has attracted significant attention from investors and the oil industry.
The sale price was set at 305 pence per Seplat Energy share, translating into a total consideration of approximately $496 million. Under the terms of the agreement, Heirs Energies will make an initial payment of $248 million, with the remaining balance due within 30 days.
M&P also disclosed that it may receive an additional contingent payment of up to $10 million, depending on Seplat Energy’s share price performance over the next six months, offering potential upside for the seller.
This divestment marks a strategic move by M&P to streamline its investment portfolio and focus on its core hydrocarbon production operations. For Heirs Energies, acquiring the 20.07% stake in Seplat Energy represents a significant expansion of its footprint in Nigeria’s oil and gas sector, strengthening its position in one of Africa’s leading hydrocarbon markets.
Industry analysts view the transaction as a sign of confidence in Nigeria’s oil sector and a reflection of growing activity by regional players seeking to consolidate strategic holdings. The deal underscores the ongoing dynamism in Africa’s energy investment landscape, where foreign and local investors are reshaping the market through high-value acquisitions.
Maurel & Prom sells its 20.07% stake in Seplat Energy to Heirs Energies for $496M. Deal includes $248M upfront and up to $10M contingent payment, boosting confidence in Nigeria’s oil sector.
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