by Nurat Uthman
Seplat Energy says it has completed the acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil.
In a statement on Thursday, Seplat Energy described the transaction as transformative.
Seplat said it will more than double production and position the company to foster growth and profitability, whilst contributing significantly to Nigeria’s future prosperity.
“MPNU adds substantial reserves and production to Seplat Energy; 409 MMboe 2P reserves and 670 MMboe 2P + 2C reserves and resources as at 30 June 2024 and 6M 2024 average daily production of 71.4 kboepd,” Seplat said.
“ As operator, Seplat’s immediate tasks are to ensure smooth transition of MPNU staff into Seplat, and on the operations, to swiftly target numerous opportunities that exist to organically grow production and further enhance the value of the assets for all stakeholders.”
Seplat said detailed guidance for the enlarged group in 2025 would be provided with Seplat’s full-year 2024 results, expected to be filed in February 2025.
