The shareholders of Seplat Energy plc have commended the company’s dedication to environmental sustainability and approved the payment of US 15 cents as dividends.
The shareholders gave their nods to the dividends at the energy firm’s 11th annual general meeting held recently in Lagos.
Speaking on the floor of the AGM, the Seplat Energy Chairman, Senator Udoma Udoma, restated the firm’s performance, which included an 11.5 per cent rise in overall revenue to $1.06bn, marking the first time that the company was crossing the $ibn threshold.
“We delivered a strong set of results in 2023, against a weaker oil price environment. Despite the 17.0 per cent decline in the average price of Brent Crude, we grew our oil and gas revenue by 11.5 per cent to $1.06bn, crossing the $1bn mark for the first time, supported by improved production and asset availability.
“Our average daily production also increased by 8.3 per cent in 2023, to 47,758 boepd (barrels of oil equivalent per day), from 44,104 boepd in 2022, with revenue from oil and gas sales for 2023 rising by 11.5 per cent. This excludes the reported $98.9m overlift. We also completed 14 new wells across our operated and non-operated assets,” he said.
Udoma also disclosed that while President Bola Tinubu opened the ANOH gas processing plant, which was projected to produce the first gas in the third quarter, the company was working to ensure the completion of the ExxonMobil acquisition.
“We all look forward to the first gas (from ANOH) in the third quarter. Seplat is currently engaging with NNPCL and the Federal Government on MPNU acquisition and we are making process. The FG is interested in boosting production.We believe that very soon, the acquisition will be completed,” he explained.
In April, the Minister of State for Petroleum Resources,Heineken Lokpobiri, revealed Tinubu’s commitment to the closure of the acquisition of Mobil Producing Nigeria Unlimited from ExxonMobil by indigenous energy company.
