Seplat Energy clinches Nairametrics’ Merger and Acquisition Deal of the Year Award

By emmanuel MALAGU

L-R: Stanley Opara of Seplat, Tunji Andrews, Isoken Obi-Chukwu, Chioma Afe of Seplat at the Nairametrics Choice Awards

Seplat Energy Plc has clinched the ‘Merger and Acquisition Deal of the Year’ Award at the Nairametrics Capital Market Choice Awards.

This is in line with Seplat Energy’s Completed  Deal on the Acquisition of Mobil Producing Nigeria Unlimited (MPNU), renamed Seplat Energy Producing Nigeria Unlimited (SEPNU) from ExxonMobil in December 2024.

According to Ugo Obi-Chukwu, Founder and Chief Analyst 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 was represented at the Awards Ceremony by the Director, External Affairs and 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.

She described the Completion of the MPNU Deal as a show of hard work, resilience and commitment to the Nigerian Course.

She also appreciated President Bola Tinubu 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.

She noted that Seplat Energy completed the Transformational Acquisition of MPNU last year, which more than doubled the Company’s Production and increased its Reserves.

She explained that the Acquired Assets have a World-Class History as some of Nigeria’s most important Oil Fields.

She said that the Acquisition had the Capacity of positioning Seplat Energy to drive Growth and Profitability, whilst contributing significantly to Nigeria’s Future Prosperity.

According to her, 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; five Gas Processing Facilities; and three Export Terminals.

The Acquisition of the Entire Issued Share Capital of MPNU adds the following Assets to the Seplat Group: 40 per cent Operated Interest in OML 67, 68, 70 and 104; 40 per cent operated interest in the Qua Iboe Export Terminal and the Yoho FSO.

Also, 51 per cent Operated Interest in the Bonny River Terminal (‘BRT’) NGL Recovery Plant; 9.6 per cent Participating Interest in the Aneman-Kpono Field; and approximately 1,000 staff and 500 Contractors have transitioned to the Seplat Group. 

Credit NAN: Texts excluding Headline