Seplat plans offshore asset acquisition
Seplat Petroleum Development Company Plc, a Nigerian independent oil and gas company listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), has announced plans to acquire some offshore assets.
Chairman of the company, Dr. Ambrose B. C. Orjiako, disclosed this while addressing shareholders and other stakeholders during the company’s 7th Annual General Meeting held in Lagos recently
He added that Seplat plans to position itself for an ambitious next phase of growth which would see the expansion of its footprint in energy business activities, a plan to pursue offshore assets acquisition, as well as opportunity driven entry into different geographies.
“I believe that Seplat has an important role to play throughout the energy transition that is set to occur in the years and decades ahead, not least through the impact we can have by scaling up our domestic gas supply business and displacing imported diesel fuels that are being burned for power generation and helping Nigeria benefit from the social and economic multiplier effects that reliable and affordable power availability can bring,” he said.
Orjiako added: “Looking forward, one of the main challenges facing the independent E&P sector is to remain relevant as the world makes the transition to a lower carbon future. The oil and gas industry face considerable challenges given that oil in particular plays such a significant part in today’s energy supply mix, with demand for the commodity still growing. A key part of my role as Chairman of the Board is to steer the company through these transitions.