• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Seplat to acquire more oil & gas assets after Eland’s acquisition

Fakoyejo Olalekan by Fakoyejo Olalekan
January 27, 2020
in Business News, Company News, Corporate deals
Austin Avuru retires as CEO of Seplat petroleum, to receive huge benefits, Seplat to acquire more oil & gas assets after Eland's acquisition
Share on FacebookShare on TwitterShare on Linkedin

Seplat Petroleum and Development Company Plc is considering acquiring more oil and gas assets as it looks to expand its portfolio in the oil industry. This was disclosed by the Chief Executive Officer of the company, Austin Avuru.

Seplat Petroleum is targeting oil and gas assets in the exploration and production space. It is believed that acquisitions improve efficiency and drive growth. So, the company expects that the acquisition of more oil and gas assets will position it for existing opportunities in the oil market.

Seplat, stakeholders call for collaboration on Customer Protection Act, Court sanctions Seplat’s acquisition of Eland Oil and Gas 

RelatedStories

Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%

SEPLAT tops trading value as All-Share Index hits N80 trillion; ACCESSCORP leads volume 

July 14, 2025
Seplat Energy

SEPLAT posts N13.5 billion in trades as All-Share Index eyes 121,000 level, mid-cap stocks shine 

July 4, 2025

Seplat’s love for inorganic growth: Inorganic growth is the use of acquisition or merger to grow a company’s market size and revenue. Nairametrics learnt Seplat Petroleum had been embracing acquisitions to leverage its presence in the oil and gas industry for years. The company had acquired a 45% operated interest in Oil Mining Lease 4, 38 and 41 from Shell, Total and Agip in 2010.

It also acquired a 40% interest in the Oil Prospecting Licence 283 marginal field area from Pillar Oil and acquired more interests in OML 53 and OML 55 from Chevron Nigeria Limited in 2015. This acquisition gave Seplat Petroleum early-mover advantage. The company later grew production at OMLs 4, 38 and 41 from 14,000 barrels of oil per day during acquisition to a peak rate of over 84,000 bopd, Punch reported.

[READ MORE: British company set to acquire more Nigerian oil & gas firms)

Avuru made this known at the Nigerian Association of Petroleum Explorationists January Technical/Business Meeting on mergers, acquisitions and divestments.

At the event, where shareholders were seated, Avuru said, “Seplat also began to invest in its gas business in 2010 in response to the Nigerian Government’s initiatives. The initiative was to improve the debilitating impact of poor power generation and supply in the country by opening the Domestic Supply Obligation pricing to market forces.

“We are strategically positioned to access Nigeria’s main demand centres with current well stock delivering around 300MMscfd (gross).”

According to Avuru, Seplat Petroleum has been able to work its way around downtime and losses, which are external negative factors, through the ability to utilise its assets in order to produce its reserves.

Recent acquisitions of Seplat Petroleum includes the Eland Oil and Gas Plc in December. Nairametrics reported that the acquisition was initially met with a major glitch but later in December, a court sanctioned the acquisition after the company settled with shareholders of Eland Oil and Gas Plc.


Follow us for Breaking News and Market Intelligence.
Tags: Agipaustin avuruEland companyseplatShellTotal
Fakoyejo Olalekan

Fakoyejo Olalekan

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: fakoyejo.olalekan@nairametrics.com.

Related Posts

Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%
Equities

SEPLAT tops trading value as All-Share Index hits N80 trillion; ACCESSCORP leads volume 

July 14, 2025
Seplat Energy
Equities

SEPLAT posts N13.5 billion in trades as All-Share Index eyes 121,000 level, mid-cap stocks shine 

July 4, 2025
Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%
Equities

Weekly Market Wrap: SEPLAT, two other heavyweights soar as ASI rakes in 2,708 points; banking sector recovers 

June 22, 2025
Weekly Stock Update: Nigerian Exchange Group record growth w-o-w, up by 0.48%
Equities

SEPLAT leads value as All-Share Index gains 0.56%, ABCTRANS and BETAGLASS shine 

June 12, 2025
Trump’s First 100 Days, IMF Downgrades, and Nigeria’s Earnings Surge | Drinks and Mics
Digital Media

Trump’s First 100 Days, IMF Downgrades, and Nigeria’s Earnings Surge | Drinks and Mics

May 3, 2025
companies
Equities

Dangote, MTN, BUA, Nestlé Nigeria, Seplat , others incur N1.42 trillion in interest expenses in 2024, up 146%

April 15, 2025
Next Post
Zenith Bank empowers Nigerian SMEs, partners Facebook on SME digital workshop, Zenith Bank MD Explains Why It Is Difficult for Nigerian SME’s To to Get Cheap Loans From Bank 

Zenith Bank empowers Nigerian SMEs, partners Facebook on SME digital workshop

Leave a Reply Cancel reply

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

Emple
nlng
first bank








DUNS

Recent News

  • Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 
  • South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG
  • 15 things you don’t need to start a business in Nigeria 

Follow us on social media:

Recent News

Sterling Bank concludes core application migration, leads the way for African Banking

Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 

July 15, 2025
Doctors

South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG

July 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics