Seplat Energy Wins Nairametrics’ ‘M&A Deal of the Year’ Award
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Leading indigenous energy company in Nigeria, Seplat Energy Plc, has clinched the ‘M&A Deal of the Year’ award at the Nairametrics Capital Market Choice Awards held in Lagos at the weekend.
L-R: Stanley Opara, Manager Corporate communications, Seplat Energy; Tunji Andrews; CEO Awabah; Isoken Obi-Chukwu, CEO GrandExploits Ltd; Chioma Afe, Director, External Affairs & Social Performance, Seplat Energy, at The Nairametrics Capital Market Choice Awards, where Seplat Energy won the ‘M&A Deal of the Year’ Award in Lagos … on Friday
The award ceremony themed ‘Capital Market as a catalyst for Nigeria’s Economic Transformation’ was graced by leading companies listed on the Nigerian Exchange Limited (NGX) and other players in the country’s capital market covering banking, energy, insurance, industry, aviation, construction, food & beverage, and hospitality, amongst other sectors.
Seplat Energy completed the deal on the acquisition of Mobil Producing Nigeria Unlimited (MPNU) – renamed Seplat Energy Producing Nigeria Unlimited (SEPNU) from ExxonMobil in December 2024.
The Nairametrics Capital Market Choice Awards is a milestone initiative aimed at reinforcing the company’s commitment to promoting transparency, financial literacy, and excellence within Nigeria’s financial ecosystem.
According to Ugo Obi-Chukwu, Founder and Chief Analysts at Nairametrics, “The capital market is home to professionals and organisations that have significantly influenced Nigeria’s financial landscape. The awards initiative is Nairametrics way of recognising and celebrating their impact.
“From strengthening investor confidence to driving corporate governance and market reforms, these players have been instrumental in shaping the market’s evolution. The Capital Market Choice Awards is our way of saying ‘thank you’ while encouraging the continuous pursuit of excellence.”
Seplat Energy completed the transformational acquisition of MPNU last year, which more than doubled the company’s production and increased its reserves. The acquired assets have a world-class history as some of Nigeria’s most important oil fields.
Seplat Energy was represented at the awards ceremony by the Director External Affairs & Social Performance, Chioma Afe; and the Manager Corporate Communications, Stanley Opara. In her remark, Afe thanked Nairametrics for the recognition and show of excellence in celebrating the impact of businesses in Nigeria’s capital market.
Afe described the completion of the MPNU deal as a show of hard work, resilience and commitment to the Nigerian course. She also thanked President Bola Ahmed Tinubu GCFR, for supporting the transaction, and appreciated the support and diligence of the various Ministries and regulators for all the work to reach a successful conclusion.
According to her, the company’s mission is to deliver value to all its stakeholders, as it treasures the good relationships that have been developed with the government, regulators, communities and staff.
The acquisition has the capacity of positioning Seplat Energy to drive growth and profitability, whilst contributing significantly to Nigeria’s future prosperity. The completion of the acquisition has created Nigeria’s leading independent energy company, with the enlarged company having equity in 11 blocks (onshore and shallow water Nigeria); 48 producing oil and gas fields; 5 gas processing facilities; and 3 export terminals.
The acquisition of the entire issued share capital of MPNU adds the following assets to the Seplat Group: 40% operated interest in OML 67, 68, 70 and 104; 40% operated interest in the Qua Iboe export terminal and the Yoho FSO; 51% operated interest in the Bonny River Terminal (‘BRT’) NGL recovery plant; 9.6% participating interest in the Aneman-Kpono field; and approximately 1,000 staff and 500 contractors have transitioned to the Seplat Group.
NLNG Launches Human Capital Development Programme Under Train 7 Project
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
NLNG says it is committed to building Nigerian capacity as it launches its Train 7 Project Human Capital Development (HCD) Basic Training Supplementary Programme in Port Harcourt today.
Group photo of participants in the NLNG Train 7 Project Human Capital Development (HCD) Basic Training Supplementary Programme, Port Harcourt.
The event, which took place in The Hotel Presidential Port Harcourt, was graced by officials from the Nigerian Content Development and Monitoring Board (NCDMB), including Mrs. Tarilate Teide-Bribena, Manager, Human Capital Development, alongside members of the NLNG Management Team, training facilitators, and the newest cohort of beneficiaries.
In his keynote speech, NLNG’s Nigerian Content Development Manager, Engr. Dagogo Buowari, (FNSE), described the programme as a milestone in NLNG’s broader commitment to achieving Nigerian Content targets and empowering the nation’s youth through skills-based development.
“This initiative further strengthens NLNG’s role in supporting Nigerian Content development, especially within the ongoing Train 7 Project.
We are proud to sustain this momentum in collaboration with the NCDMB, whose visionary support continues to drive human capital development across Nigeria,” he stated.
The supplementary training is an expansion of the Train 7 HCD Basic Training Programme.
It offers two distinct learning tracks designed to meet the diverse needs of participants: structured theoretical modules through classroom training, and practical, field-based experience through hands-on training. Each of these components follow a carefully developed curriculum with specific milestones to ensure that trainees graduate with both industry-relevant knowledge and applied technical competence.
“For the trainees, this is not just a learning programme—it is a launchpad for your professional journey,” Engr. Buowari noted. “I urge you to commit fully, complete all required modules, and take the certification process seriously.
This experience could define your future.” Beyond technical training, the programme is structured to holistically support the personal and professional development of each participant.
Trainees will have access to healthcare services through Reliance HMO, ensuring their wellness throughout the training period.
They will also be enrolled in mentorship programmes designed to provide guidance from seasoned professionals in the oil and gas industry.
Additionally, wellness and support services, including counselling and emotional support resources, will be available to help participants maintain balance and resilience.
Regular performance reviews and career counselling sessions will ensure each trainee’s progress aligns with their long-term professional aspirations.
These offerings reflect NLNG’s commitment not only to skill acquisition but also to developing well-rounded professionals capable of thriving in dynamic and demanding environments.
Engr. Buowari, during the ceremony, also recognized the dedication of NLNG staff and project teams whose tireless work behind the scenes made the programme’s expansion a reality. “Many hands within NLNG have worked tirelessly to make today a success. From those present in this room to others handling business-critical operations elsewhere, we say thank you. Your efforts are contributing to a more sustainable and empowered Nigeria,” he remarked.
The Train 7 Project, a significant expansion of NLNG’s production capacity, continues to align with Nigeria’s national vision for local content, inclusive growth, and youth empowerment. Through initiatives such as this training programme, NLNG is reaffirming its purpose-driven mission of “Inspiring a Sustainable Future.”
Seplat Energy is Redefining Nigeria’s Energy Destiny – Roger Brown, CEO
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
From landmark acquisitions to digital innovation and ESG leadership, Seplat Energy is transforming Nigeria’s energy landscape and setting new standards for Africa’s indigenous operators, the Company’s Chief Executive Officer, Roger Brown, told Forbes Africa/Penresa team in an interview.
Following its landmark acquisition of Mobil Producing Nigeria Unlimited (MPNU) assets, Seplat Energy is poised to redefine Nigeria’s gas future through a blend of integration, innovation, and an unwavering commitment to inclusive national development. “We are absolutely delighted to have completed the MPNU acquisition. It’s a true game-changer for Seplat Energy. The scale of this transaction is simply monumental,” says Brown.
“We’re now active in 11 blocks, eight of which we operate directly.” The acquisition not only doubled Seplat’s reserves but also significantly expanded its footprint and diversified its portfolio across upstream and midstream sectors. “We have seven onshore blocks and four shallow-water offshore blocks. With this acquisition, we formed Seplat Energy Producing Nigeria Unlimited (SEPNU) and now manage operations that connect seamlessly into three terminals—one offshore and two onshore,” Brown elaborates.
He adds, “This gives us a fully integrated value chain—from the wellhead all the way to export via vessel—with Seplat in full control of operations. Our production has materially increased. We’ve moved from around 50,000 barrels per day to over 120,000 barrels per day. We’re proud to say that our workforce now includes around 1,500 professionals—the vast majority of whom are Nigerians.”
Brown emphasizes that the gas resource in Seplat’s offshore blocks is extraordinary. “While not all of it is currently classified as proven reserves, we estimate the actual volumes are three times what we’re currently reporting. This gas will be instrumental. It will feed into domestic power generation, industrial uses such as fertilizer and petrochemicals, and LNG—both Nigerian LNG and new floating LNG initiatives.”
He adds, “This is a major opportunity for Nigeria as we move into a new phase of energy autonomy. It’s not just about exporting oil and gas anymore; it’s about building domestic capacity that supports job creation, industrialization, and long-term economic resilience.” Seplat’s strategy remains focused on meeting Nigeria’s specific energy needs.
“You must tailor your energy strategy to where you operate. Nigeria has one of the lowest levels of energy access globally. Affordable, reliable energy is essential for economic development, job creation, manufacturing, education, and healthcare,” says Brown. “Gas is the answer for Nigeria’s base load electricity. It’s available 24/7, 365 days a year.”
He continues, “By the end of this year, we’ll have three operational gas processing plants onshore. Strategically, these are located to serve high-demand areas such as Lagos and Abuja. Together with our offshore acquisition, we’ll soon be capable of processing one billion cubic feet of gas per day. This expanded gas capacity will lower electricity costs and displace expensive and polluting diesel generators.”
While gas remains foundational, Seplat is already thinking ahead. “We do have ambitions in renewables and electricity generation,” Brown notes. “But for now, the biggest opportunities—and the greatest needs—lie in upstream oil and gas and midstream gas processing. At some point, when the time is right, we will take further steps into the electricity space.” The company’s long-term roadmap includes expanding modular solutions that can bring power closer to off-grid communities. “We’re exploring modular gas-to-power systems that can be deployed in rural areas. These will play a key role in solving last-mile electricity access problems,” he says.
Technology is central to Seplat’s strategy—both for operational excellence and for reducing environmental impact. “We’re aggressively moving to end routine flaring—some years ahead of Nigeria’s national target of 2030,” Brown states. “We’ve committed to ending flaring in our onshore operations this year, and we’re working on a roadmap for our offshore assets.”
“We’re deploying AI to monitor the integrity of aging infrastructure. Predictive maintenance now guides our operations. We’re also using better drilling technologies, data analytics for seismic analysis, and digital twins for real-time monitoring. Our technology team is continuously scouting and deploying tools that improve efficiency and reduce our carbon footprint.”
The adoption of these tools, he says, is part of building a smarter, safer, and more future-resilient Seplat. “This is about creating a culture of continuous innovation—about using the best available tools to optimize performance while keeping people and the environment safe.” Seplat is also investing in people, recognizing that long[1]term sustainability starts with human capital. “We just onboarded 50 new graduates through our graduate trainee program—out of over 10,000 applicants,” Brown shares.
“The talent in Nigeria is remarkable. We want to give them reasons to stay and thrive here.” This investment in human capital extends into partnerships with educational institutions and STEAM (Science, Technology, Engineering, Arts & Mathematics) programs.
“We’re working with universities to help shape curricula that are aligned with the skills we need in the energy industry,” Brown explains. “It’s not just about hiring—it’s about helping to develop the next generation of Nigerian engineers, geoscientists, economists and tech innovators, among others.”
Strong governance and a commitment to transparency underpin the company’s role in Nigeria’s transformation. “President Bola Tinubu has made clear that attracting foreign direct investment is a national priority. The process we went through with the MPNU acquisition was incredibly detailed and transparent. That’s the kind of diligence international investors expect.” Brown notes the institutional progress being made.
“Two of our board members are now part of NNPCL’s board. These are top-tier professionals—a clear signal that Nigeria is serious about transforming the energy sector. You simply cannot ignore Nigeria—a population of over 200 million heading toward 400 million. By 2050, one in four people on the planet will be African. Nigeria will be central to that story.”
He stresses the global significance of what is happening now. “This is a pivotal moment for Nigeria and the region. The global energy transition will not look the same everywhere. For Africa, and for Nigeria specifically, gas is our bridge fuel. And companies like Seplat are showing that indigenous players can lead the way.” Seplat also continues to deepen its impact through community investment and local partnerships. “Our approach is holistic— from scholarships and education support to healthcare outreach and economic empowerment,” he says.
“Our procurement policies prioritize indigenous businesses. We want value to stay in Nigeria, to strengthen the local economy and create jobs across the value chain.” Through its healthcare outreach, Seplat has touched thousands of lives across rural communities with free medical services, maternal health programs, and awareness campaigns. These programs are often developed in consultation with local leaders to ensure relevance and impact. “We believe in being a responsible neighbor and a reliable partner. Our goal is to support long-term development that lasts beyond the life of our projects.”
Environmental stewardship is another cornerstone of Seplat’s ESG commitment. Brown notes, “We’re investing not only in flare reduction but also in biodiversity initiatives and conservation programs in the Niger Delta. We understand our responsibility goes far beyond profitability.” He adds, “We’re even exploring the use of renewable energy to power our own operations—a small but symbolic step toward a diversified energy future. Gas is our foundation, but we’re preparing for what comes next.”
Finally, Seplat’s adherence to global standards ensures its long-term sustainability and investor confidence. “We are dual-listed in Lagos and London. We operate to global standards and have robust governance systems. That’s what gives investors confidence,” Brown says. “We’ve seen real reforms. We’ve seen transparency. We’ve seen changes in leadership, especially at NNPCL, that show Nigeria is serious,” he concludes. “Nigeria is open for business, and Seplat is living proof of what’s possible when you lead with belief, strategy, and integrity.” With bold leadership, a clear vision, and deep national roots, Seplat Energy is not just keeping pace with Nigeria’s Decade of Gas—it’s leading the way.
FOR FURTHER ENQUIRIES CONTACT:
Chioma Afe – Director, External Affairs & Social Performance (CAfe@seplatenergy.com); Stanley Opara – Manager, Corporate Communications (SOpara@seplatenergy.com)
Website: www.seplatenergy.com
Notes to editors
Seplat Energy Plc is a leading indigenous Nigerian energy company with a strategic focus on Nigeria. The company is listed on the Premium Board of the Nigerian Exchange Limited (“NGX”) (NSE:SEPLAT) and the Main Market of the London Stock Exchange (“LSE”) (LSE:SEPL). Seplat is pursuing a Nigeria focused growth strategy and is well-positioned to participate in future divestment programmes by the international oil companies, farm-in opportunities and future licensing rounds. For further information please refer to the company
Gas must replace dirtier fuels to drive energy transition in Africa – NLNG MD
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The Managing Director and Chief Executive Officer of NLNG, Philia Mshelbila, on Wednesday, called for deliberate efforts for the displacement of dirtier fuels, like biomass, by natural gas to drive energy transition in Africa.
Mshelbila made the call during a panel session titled “Diversity of Gas Development Globally” at the 29th World Gas Conference in Beijing, China which held from 19th May to 23rd May 2025.
He remarked that the most important factors for energy, especially natural gas, were availability and affordability, stressing the need to solve infrastructure challenges to ensure that critical energy is getting to where it’s needed, at affordable rates.
.“Today, Africa’s population is about 1.4 billion, and most people still use biomass for cooking and liquid fuels for transportation. Power generation comes from a mix of hydro, natural gas, and, in many cases, diesel.
This is where natural gas has a major opportunity, to displace dirtier fuels. Africa’s population is expected to grow to 2.5 billion in the next 25 years, adding over a billion people. For the existing population, we need to shift from biomass to gas. For the next billion, we must ensure that natural gas becomes the primary energy source before transitioning to renewables.
But none of this will happen without solving access and affordability,” he said.Mshelbila emphasised the significance of Nigeria’s Decade of Gas initiative as a strategic pathway for replacing high-emission fuels with cleaner low carbon fuels.“The Decade of Gas is Nigeria’s strategic roadmap to replace high-emission fuels with cleaner, more affordable gas solutions.
Gas is not just a bridge; it is a foundation for achieving energy access, industrialisation, and environmental sustainability.“For the past 25 years, there’s been significant focus on exports because the country needed the revenue, which is critical for development. However, domestic utilisation has lagged.
The Decade of Gas looks at supply, demand, infrastructure, and commercial frameworks to unlock gas utilisation.
Considerable work has gone into removing bottlenecks and challenges that have hampered gas utilisation, both for domestic use and export.“One example is the push for Compressed Natural Gas (CNG) in transportation, which is now gaining momentum. Another focus area is LPG, which NLNG has spearheaded.
We have decided that our production of over 500,000 tonnes per annum will be entirely deployed for domestic use. The goal is to displace biomass and kerosene used for cooking.
This isn’t just about the cleanliness of natural gas, it’s also about addressing health issues related to indoor air pollution, which causes over 100,000 deaths annually among women and children. All these aspects are part of the Decade of Gas initiative.
Our aim is that by 2030, we will have significantly increased natural gas utilisation to displace dirtier fuels and create a new foundation for future growth,” he added.Addressing the continent’s diverse energy landscape, Mshelbila underscored the need for localised solutions.
He said while countries such as Nigeria, Algeria and Egypt possess abundant reserves, gas utilisation rates remain low due to a lack of enabling infrastructure and policy clarity.
He called for deliberate policies to foster infrastructure expansion, local content development, and innovation. “From a developing world perspective, I believe it starts with creating the right investment environment.
We speak from real experience here. Although we have had natural gas for decades, it was only last year, as part of the Decade of Gas initiative, that we established clear fiscal terms for deepwater gas. Before that, investors took on significant risks because the fiscal terms weren’t defined.
This is a clear example of government providing necessary clarity, so investors know exactly what they’re committing to.Mshelbila stated that infrastructure development could be driven by policy and emphasised that the right investments could promote gas infrastructure expansion. On pricing, he expressed complete opposition to government price regulation. However, he acknowledged that significant vulnerable populations in the developing world needed protection.
He stressed the importance of ensuring affordability and access to natural gas for these groups.
On the conversation on energy transition and sustainability, he stated that policy played a crucial role, noting that policies varied globally with the EU leaning toward regulation and the US favouring incentives.
He added that there was a role for policy in stimulating the energy transition appropriately, though the approach would differ across regions.Mshelbila was on the panel with Jack Fusco, President and CEO of Cheniere, U.S.A, Peter Wong, Managing Director of Hong Kong and China Gas Company Limited and Andrea Stegher, Senior Advisor at SNAM and Vice President of the International Gas Union, organisers of the conference.