The Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has urged Seplat Energy Producing Nigeria Unlimited (SEPNU) to accelerate its natural gas delivery efforts for domestic use and export markets.
The Minister shared this statement on his official X (formerly Twitter) account.
He made this appeal during a meeting with Seplat’s senior management team, led by Managing Director, Mr Dotun Isiaka, at the NNPC Towers, Abuja.
“Our discussions centered on expediting natural gas supply for both domestic use and export, particularly in light of Seplat’s recent takeover of assets from ExxonMobil in December 2024.”
Ekpo commended Seplat Energy for successfully assuming operatorship of these assets and urged them to fast-track Gas Sales Agreements (GSAs), which are critical for unlocking Nigeria’s gas potential.
He also emphasized the importance of timely execution of these agreements, noting that they would drive industrialization, energy security, and economic growth.
The Minister further highlighted the need for strong engagement with stakeholders, particularly host communities, to ensure a stable operational environment.
Ekpo highlighted the challenge of Nigeria’s low domestic gas utilization despite its vast reserves, urging operators like Seplat Energy to collaborate with the government to address the issue.
“Despite being one of the most gas-endowed nations in the world, Nigeria’s domestic utilization remains disappointingly low. Operators like Seplat Energy must collaborate with the government to reverse this trend. My office remains committed to supporting indigenous players by addressing legislative and regulatory bottlenecks to facilitate their gas production and distribution efforts”.
He reaffirmed his commitment to supporting indigenous players by addressing legislative and regulatory challenges to enhance gas production and distribution.
The Minister also pledged to collaborate with Seplat Energy to maintain its commitments and work alongside the government and private sector to unlock Nigeria’s full gas potential.
What you should know
- In January 2025, Seplat Energy, listed in Nigeria and London, announced plans to double its crude oil production following the acquisition of onshore assets from ExxonMobil as reported by Nairametrics.
- The company aims to increase its output from 50,000 barrels per day to approximately 120,000 bpd within six months.
- Over the past five years (2019–2023), Seplat has demonstrated a strong financial performance, achieving a compound annual growth rate (CAGR) of 34% in revenue and 7% in profit before tax (PBT). This growth highlights the company’s resilience and ability to create value despite industry challenges
