Recent acquisition positions company for dual-market strategy
Seplat Energy Plc is preparing to enter the gas export business to enhance foreign exchange earnings following its strategic acquisition of Mobil Producing Nigeria Unlimited (MPNU). Dotun Isiaka, managing director of Seplat Producing Nigeria Unlimited (SEPNU), revealed the plans during an industry panel session at the Offshore Technology Conference in Houston.
“We are focused on both domestic supply and export,” Isiaka stated, emphasizing Seplat’s commitment to ensuring energy access for Nigerians while pursuing export opportunities. “We believe gas should be the primary driver of the nation’s economy.”
The company currently maintains a combined processing capacity of approximately 550 million standard cubic feet per day between its Oben and Sapele gas plants, with the nearly-complete ANOH Gas Plant adding another 300 mmscfd. The MPNU assets bring over 14 trillion cubic feet of gas reserves with existing infrastructure supporting processing and distribution.
“These reserves are near existing infrastructure, including three compression hubs with a combined capacity of 1.7 billion cubic feet per day,” Isiaka noted, adding that Seplat possesses sufficient gas resources to serve both domestic and export markets effectively.
Source: thecable.ng
