Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News Appointments

Brown set to replace Avuru as Seplat’s CEO 

Joseph Olaoluwa by Joseph Olaoluwa
November 18, 2019
in Appointments, Business News, Company News
Brown set to replace Avuru as Seplat's CEO , Seplat to acquire more oil and gas assets after acquisition of Eland company 

Austin Avuru

Share on FacebookShare on TwitterShare on Linkedin

Seplat Petroleum Development Company Plc has announced the retirement of its pioneer Managing Director and later CEO, Mr Austin Avuru. His retirement will be effective from July 2020, after overseeing the company’s operations for ten years.

The oil and gas company, which is dual-listed on the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), made the announcement in a notice issued to the NSE. The notice was signed by Edith Onwuchekwa, Seplat Petroleum’s Company Secretary.

Avuru Achievements: While Avuru steered the affairs of the company, he recorded tremendous progress during his tenure. Some of those achievements include:

RelatedPosts

NGX closes on positive note with the market capitalization up by N47 billion

MTN share price hits 52-week high as the market value reaches N5.50 trillion

  • Growing the company’s oil production from a gross production of 22,700 barrels of oil equivalent per day (BOE/D) as at December 2010 to peak of 111,368 boepd gross production as at December 2018. This was sustained through major drilling campaigns and major new oil and gas plants development.
  • The acquisition of 40% of OML 53, after the Company’s IPO of 2014.
  • The creation of an opportunity in partnership with NNPC, capable of boosting a mid-stream subsidiary, ANOH Gas Processing Company Ltd into a projected outlook of  300MMscf/d of Gas, 22,500bdp of condensate and 1,200boepd of LPG processing Company.
Brown set to replace Avuru as Seplat's CEO 
Roger Brown

Due to the listed achievements listed above, the board of SEPLAT expressed its immense appreciation to Avuru with the hope that more giant strides would be recorded as he looks to retire by the middle of next year.

[READ MORE: Ecobank Transnational Incorporated appoints Laurence Do Rego as Group Chief Regulatory & Compliance Officer]



A new successor: The Board unanimously chose Roger Brown to succeed Avuru and lead restructuring efforts between now and July 2020, the date of Avuru’s exit from the board.

Seplat is eyeing expansion and as such, it is reviewing its current organizational and systems structure.

“Looking forward, Seplat plans to position itself for a next phase growth ambition which would see the expansion of its footprint in terms of energy business activities, a plan to pursue offshore assets as well as opportunity-driven entry into different geographies.

“The Company believes that such a corporate transition would require a different kind of organizational structure, people skills set and mentality to compete well in the expanded space. In view of this, Seplat will be reviewing its current organizational and systems structure,” the statement read.

Who is Roger Brown? Mr. Brown joined SEPLAT in 2013 as the CFO and played a key role in the successful dual listing of the company in 2014. Similarly, he played significant roles in various asset acquisitions by the company.

Mr. Brown brings to the CEO role a deep knowledge of the company in his 6 years as the CFO and a member of the board. He has strong financial, commercial and M&A experience as well as proven leadership skills which will be an asset as the company embarks on the next phase of its growth plan.

[READ ALSO: Halima Dangote appointed to head Commercial Operations of Dangote Industries Limited]

Prior to joining SEPLAT, Mr. Brown was an advisor to the company while he was the Managing Director and head of EMEA Oil and Gas at Standard Bank Group. During his time at the bank, he was instrumental in providing advice and deploying capital across the African continent in the Oil & Gas, Power & Infrastructure and the renewable energy sectors.

 

Related

Tags: London Stock ExchangeMr. Austin AvuruNigerian Stock Exchangeseplat

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Institutional investors shorting Bitcoin accounted for 80% of weekly inflows
    • Meyer Paints Plc: Rising cost pressure puts a damper on earnings
    • FG restructures 5 indebted DisCos, banks take over shares

    Follow us on social media:

    Recent News

    Bitcoin investors record losses of over $7 billion in recent market sell-off

    Institutional investors shorting Bitcoin accounted for 80% of weekly inflows

    July 6, 2022
    Meyer Plc announces new appointment 

    Meyer Paints Plc: Rising cost pressure puts a damper on earnings

    July 6, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com