by Oluwatunmise Omoseyin
Seplat Energy Plc, a leading international energy company listed on the Nigerian Exchange Limited and the London Stock Exchange, has announced the completion of its acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil Corporation.
In a statement released on Thursday, Seplat Energy’s Chief Executive Officer, Roger Brown, highlighted the significance of the acquisition. He noted that MPNU’s assets and infrastructure align perfectly with Seplat’s strategy for sustainable growth, while also committing to maintaining international standards and environmental protections.
“We have acquired a company with one of the best portfolios of assets and related infrastructure in a world-class basin, providing enormous potential for the Seplat Group. Our commitment is to invest to increase oil and gas production while reducing costs and emissions, maximising value for all our stakeholders,” he said.
The transaction, which significantly bolsters Seplat’s production capacity, will see the company’s output rise to approximately 120,000 barrels of oil equivalent per day. The acquisition had been under regulatory review since an $800 million agreement was reached in February 2022, receiving final approval from the Federal Government in October 2024.
Brown emphasised the company’s mission to deliver reliable and affordable energy while creating value for all stakeholders. He assured that MPNU employees would be seamlessly integrated into Seplat’s workforce.
The Chairman of Seplat Energy, Udoma Udo Udoma, also expressed gratitude to President Bola Ahmed Tinubu and key government ministries for their support throughout the process.
“Seplat Energy sincerely thanks His Excellency, President Bola Ahmed Tinubu GCFR, for supporting this transaction, and appreciates the support and diligence of the various Ministries and regulators for all the work to reach a successful conclusion,” Udoma said.
“We are delighted to welcome the MPNU employees to Seplat Energy. We are excited to begin our journey in a new region of the country, and we look forward to replicating the positive impacts we have achieved within our communities in our current areas of operations. Seplat’s mission is to deliver value to all our stakeholders, and we treasure the good relationships we have developed with the Government, regulators, communities, and our staff,” he added.
The acquisition is expected to enhance Seplat Energy’s operations, ensuring sustained growth in Nigeria’s energy sector while maintaining its focus on reducing emissions and costs.
