Oil and Gas Industry
Seplat Energy Plc Inherits 1.3Billion Dollar Exxon Mobil Oil And Gas Assets.

Published
8 months agoon

Nigeria has granted approval for Exxon Mobil Corp. to sell its oil and gas assets to the local energy company Seplat Energy Plc, bringing to a close a prolonged two-year delay in finalizing the $1.3 billion deal.
President Bola Tinubu, granted ministerial approval for this agreement along with three others, according to Gbenga Komolafe, the chief executive officer of the Nigerian Upstream Petroleum Regulatory Commission.
On Monday, during an event in the capital city of Abuja, Gbenga Komolafe, the CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), announced that the ministerial approval has been secured.
Under the agreement, Seplat will acquire a 40% interest in four oil mining leases and the related infrastructure, which includes the Qua Iboe export terminal. Additionally, Seplat will hold a 51% stake in the Bonny River natural gas liquids recovery plant that was formerly operated by Mobil Producing Nigeria Unlimited, the local division of Exxon.
You may like
Seplat Energy Redefining Nigeria’s Energy Destiny— Roger Brown, CEO
Seplat Energy’s Revenue Hits 1.228 Trillion Naira 2025 Q1, As Cash Generation Stands At 464.9Billion Naira In Q1 Of 2025.
Seplat Energy PLC Restates Committment To Energy Sustainability In Nigeria, Says Focus Is Long-Term Driven.
Seplat Energy Commits To Financial Transparency In The Oil And Gas Sector, Joins Extractive Industries And Transparency Initiative, (EITI) As Supporting Company
Seplat Energy Declares 1.652Trillion Naira Revenue Rise In 2024FY.
Seplat Energy’s Acquisition Deal Gets Industry Recognition At 2025 Nigeria International Energy Summit.