London, December 12, 2024, (Oilandgaspress) ––– Seplat Energy Plc, a leading Nigerian energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, is delighted to announce that it has completed its acquisition of Mobil Producing Nigeria Unlimited (“MPNU”) from ExxonMobil. The transaction is transformative for Seplat Energy, more than doubling production and positioning the Company to drive growth and profitability, whilst contributing significantly to Nigeria’s future prosperity.
Udoma Udo Udoma, Chairman of Seplat Energy, said: “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.
“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.” MPNU adds substantial reserves and production to Seplat Energy; 409 MMboe 2P reserves and 670 MMboe 2P + 2C reserves and resources as at 30 June 2024 and 6M 2024 average daily production of 71.4 kboepd. In connection with the completion of the acquisition of MPNU, the listing of Seplat’s existing ordinary shares on the Official List of the Financial Conduct Authority (“FCA”) is expected to be cancelled with effect from the close of trading later today and then readmitted to the equity shares (International commercial companies secondary listing) segment of the Official List of the FCA and to trading on the main market for listed securities of the London Stock Exchange.
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