Table of Contents
Key Points
- Seplat expands into Nigeria’s power sector with modular gas-to-power systems targeting rural electrification and last-mile energy access.
- Post-Mobil acquisition, Seplat boosts oil output to 120,000 barrels/day, establishing a fully integrated upstream-midstream value chain.
- Q1 2025 revenue surges 350% to $809.3 million as Seplat scales gas infrastructure, deepens energy access, and eyes sustainable growth in Nigeria.
Seplat Energy Plc, the energy conglomerate co-founded and partly owned by Nigerian energy tycoon Austin Avuru, is charting a bold course into the country’s power sector, with plans to deploy modular gas-to-power systems to underserved rural communities.
The move, announced by CEO Roger Brown, is part of the firm’s long-term strategy to deepen Nigeria’s energy access and industrial development.
“We intend to step into the power space when the time is right,” Brown said in a statement on Thursday. “Modular, off-grid solutions will play a critical role in solving last-mile electricity access challenges.”
Post-Mobil acquisition expansion
Seplat’s expansion comes on the heels of its landmark acquisition of Mobil Producing Nigeria Unlimited (MPNU) assets, which doubled its reserves and boosted daily production from 50,000 barrels to over 120,000 barrels.
Now operating across 11 oil blocks—seven onshore and four offshore—the company has created Seplat Energy Producing Nigeria Unlimited (SEPNU), establishing a fully integrated value chain from wellhead to export. “We now manage operations feeding into three terminals, allowing us full control over upstream and midstream delivery,” Brown added.
Seplat Energy leads Nigeria’s oil market, revenue soars 350%
Founded in 2009 by Nigerian energy magnates Austin Avuru and Ambrosie Orjiako, Seplat Energy has risen to become Nigeria’s largest listed energy group on the Nigerian Exchange (NGX), anchored by a dominant presence in the Niger Delta’s oil and gas sector.
The company has maintained strong performance on the NGX, balancing operational challenges with strategic growth. Avuru and Orjiako, holding 8.2 percent and 6.43 percent stakes respectively, are poised to reap substantial dividends from their investments.
Seplat’s Q1 2025 revenue soared 350 percent to $809.3 million, powered by increased output and SEPNU’s asset integration. With over 850 million standard cubic feet per day (MMscfd) of gas infrastructure in place, Seplat is strategically positioned to address Nigeria’s domestic energy needs.
Brown: Gas is Nigeria’s key to reliable power
Brown emphasized Nigeria’s chronic power shortfall, noting that gas remains the most viable solution for 24/7 electricity. “Nigeria has one of the lowest levels of energy access globally. Gas is essential—not just for power generation, but for industrial growth, fertilizer production, and LNG exports,” he said.
While Seplat has ambitions in renewables, Brown affirmed the company’s current focus remains on scaling upstream oil, gas production, and midstream gas processing. “Energy strategies must align with local needs. In Nigeria, gas is the fastest path to sustainable development.” Brown said. With its deepening investment in gas-to-power and expanding production portfolio, Seplat is poised to play a central role in transforming Nigeria’s energy landscape.
