Omo, you don hear this one? Seplat Energy don finally shake things up as dem complete conversion of their onshore oil and gas assets to the PIA fiscal regime! E be like say dem don hit jackpot o!

Dis conversion na big deal for the company as e move dem from the ancient Petroleum Profits Tax regime. Na wetin society dey call modernization! So, dis one na good news for Seplat, as dem dey try make oil production more competitive in the global market. E get as e be!

For the record, the PIA wey dem sign since August 2021 go help improve transparency, attract investments, and make oil management for Naija shine like a star. No bi small thing at all!

Seplat West Limited and Seplat East Onshore Limited now sabi say OMLs 4, 38, 41, and 53 no go dey managed under the old way again. Instead, dey go dey follow the new PIA rules wey sharp like knife! For fresh statistics, during the first nine months of 2025, dem see an average production of about 42,591 barrels of oil equivalent per day, which na about 31% of Seplat total production. Abeg, na wetin dem call serious output!

And guess wetin, new Petroleum Mining Lease (PML) and Petroleum Prospecting Licence (PPL) numbers don land already, with dem operations under the PIA expected to kick off from January 1, 2026. E mean say another year, things go fully change for better.

Roger Brown, the CEO of Seplat, no fit hide him joy as e talk say dis conversion na serious milestone for dem and the joint venture partners. E show say dem dey ready to make bang bang for profit and cash flow! Na so e go be from 2026 and beyond!

Hope say dem fit also convert their offshore assets to PIA regime before 2027, make we see wetin go happen next. E be like say Seplat wan shine for the energy industry!