Seplat Energy says it sees the potential to unlock an estimated 14 trillion cubic feet of untapped natural gas in newly acquired assets in Akwa Ibom State.
The Chief Executive Officer of Seplat Energy, Roger Brown, speaking at the Heirs Energies Leadership Forum 2025, in Abuja, pledged to accelerate oil and gas production, unlock untapped gas reserves and foster sustainable growth in the energy sector.
He said that Seplat Energy is committed to enhancing Nigeria’s energy sector by accelerating oil production and expanding its domestic gas supply capacity.
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“We see tremendous potential in unlocking 14 TCF of untapped gas in our newly acquired assets in Akwa Ibom State and we are aligned with the government’s vision that every barrel of oil and molecule of gas counts,” he said.
He stated that the company will deliver 850 million standard cubic feet of gas for domestic and industrial use in Nigeria.
“Seplat Energy is committed to supporting the delivery of Nigeria’s energy future by accelerating oil production and delivering on our 850 million scf gas capacity to domestic industry including power, fertilizer production, and LNG.”
He noted that Seplat Energy’s targets and recent investments align with the Nigerian government’s vision of optimizing every available resource to strengthen energy security and economic growth.
“We are aligned with the government’s vision that every barrel of oil and molecule of gas counts. As such, we will continue to invest in safe and efficient operations to ensure long-term energy security and sustainable growth,” the CEO added.
Brown stressed that Nigeria’s energy sector is undergoing a historic transformation, with unprecedented divestments.
He said these new investments and divestments will unlock new opportunities for growth in the energy sector.
Last year, Seplat Energy, which is listed in both Nigeria and London, acquired Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil for $1.3 billion.
The assets acquired primarily include oil and gas operations in several oil fields and export terminals in Akwa Ibom state.
The acquisition has now bestowed on Seplat, equity in 11 blocks (onshore and shallow water); 48 producing oil and gas fields; 5 gas processing facilities; and 3 export terminals.
Straightnews reported that the acquisition would double Seplat Energy’s oil production capacity.
The company described it as a “game-changer, positioning us to maximise the potential of mature assets through strategic investments and high-impact drilling campaigns.”
With Nigeria pushing to expand gas utilization as a transition fuel, Seplat Energy’s investments in oil and gas infrastructure, as well as other recent multibillion Naira investments, are expected to play a key role in enhancing domestic energy supply and supporting industries.
The Federal Government has a target of producing over two million barrels per day of crude oil in 2025, but its output for January was 1.5 Mbps.
It is short of 500,000 bpd, but the government has vowed to meet this target this year, as the 2025 budget is benchmarked on an output of 2.06 Mbps.
