Seplat’s acquisition of Exxon’s subsidiary named ‘Deal of the Year’
Seplat Energy Plc, a Nigerian energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, has clinched the ‘Deal of the Year’ Award at the recently held New Telegraph Newspaper Awards.
Seplat Energy completed in December the acquisition of Mobil Producing Nigeria Unlimited – renamed Seplat Energy Producing Nigeria Unlimited – from ExxonMobil.
Ayodele Aminu, managing director/editor-in-chief of the New Telegraph Newspaper, said at the award ceremony: “Tonight, we celebrate not just achievements but the transformative power of love, dedication to work, those who have transcended expectations, those who have defied barriers and inspired digital growth and made extraordinary waves and impact in their various fields.”
“The true essence of these awards lies not in accolades or trophies, but in the enduring impact of each orgnanisation and individual’s contributions,” Aminu said, urging awardees to continue to push boundaries and inspire others for greater heights.
The MPNU deal was transformative for Seplat Energy, with the capacity of more than doubling production and positioning the company to drive growth and profitability, whilst contributing significantly to Nigeria’s future prosperity, Seplat said in a statement.
It said: “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 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.”
Responding, Seplat Energy thanked the New Telegraph Newspapers for its recognition whilst lauding the newspaper’s commitment to excellence and professionalism. “At Seplat Energy we are proud of the contributions we can make to improving affordable energy access for Nigerians through the safe, responsible development of Nigeria’s oil and gas reserves,” it added.
