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Chief Executive Officer Seplat Energy Plc

  •  Seplat Energy Plc on Wednesday said there were huge business opportunities for investors in Nigeria s transition to cleaner sources of energy Mr Roger Brown the Chief Executive Officer Seplat Energy Plc made this known while delivering a keynote address at the 2022 Society of Petroleum Engineers SPE Nigeria Annual International Conference and Exhibition NAICE in Lagos The News Agency of Nigeria reports that the topic of the panel session was Operationalising a Clean Energy Transition for Sustainable Development in Africa Represented by Mr Effiong Okon New Energies Director Seplat Energy Plc Brown said lack of access to energy by Nigeria and other African countries remain a huge opportunity for investors He said Nigeria in particular had a strong potential for growth and that energy transition was an opportunity to create a sustainable future for the country According to him Nigeria s population is projected to hit 329 million by 2040 with an electricity demand of 240TWh Brown said there was the need for investment in gas and renewables such as hydro solar and wind which would play key roles in Nigeria s industrialisation in the near future He said The greatest business opportunity ahead of us is to supply the right mix of energy to support Nigeria s growth In doing so we must make a positive social impact and contribute to Nigeria s achievement of the United Nations Sustainable Development Goals Brown said Seplat was in support of the Federal Government s decision to make gas Nigeria s energy transition fuel and would continue to make investments toward the development and utilisation of the country s abundant gas resources While listing the company s achievement he said Seplat had since 2011 invested a capex of 1 7 billion in the sector and had paid 445 million dividends since its Initial Public Offerring IPO He said the 700 million ANOH Gas Processing Company being constructed by Seplat and the Nigerian National Petroleum Company Ltd at Asaa in Imo was nearing completion Brown said the project when completed would provide gas to boost the much needed supply of power to millions of homes and businesses across Nigeria to facilitate better standard of living and drive economic growth Earlier Prof Olalekan Olafuyi Chairman SPE Nigeria Council urged African countries to priotise reduction of energy poverty in the continent while also working on decarbonising the energy system Olafuyi said that the continent s contribution to global carbon emission was relatively low He added that there was the need to utilise its huge hydrocarbon resources for industrialisation and human capital development NewsSourceCredit NAN
    Huge investment opportunities in Nigeria’s energy transition abound – Seplat
     Seplat Energy Plc on Wednesday said there were huge business opportunities for investors in Nigeria s transition to cleaner sources of energy Mr Roger Brown the Chief Executive Officer Seplat Energy Plc made this known while delivering a keynote address at the 2022 Society of Petroleum Engineers SPE Nigeria Annual International Conference and Exhibition NAICE in Lagos The News Agency of Nigeria reports that the topic of the panel session was Operationalising a Clean Energy Transition for Sustainable Development in Africa Represented by Mr Effiong Okon New Energies Director Seplat Energy Plc Brown said lack of access to energy by Nigeria and other African countries remain a huge opportunity for investors He said Nigeria in particular had a strong potential for growth and that energy transition was an opportunity to create a sustainable future for the country According to him Nigeria s population is projected to hit 329 million by 2040 with an electricity demand of 240TWh Brown said there was the need for investment in gas and renewables such as hydro solar and wind which would play key roles in Nigeria s industrialisation in the near future He said The greatest business opportunity ahead of us is to supply the right mix of energy to support Nigeria s growth In doing so we must make a positive social impact and contribute to Nigeria s achievement of the United Nations Sustainable Development Goals Brown said Seplat was in support of the Federal Government s decision to make gas Nigeria s energy transition fuel and would continue to make investments toward the development and utilisation of the country s abundant gas resources While listing the company s achievement he said Seplat had since 2011 invested a capex of 1 7 billion in the sector and had paid 445 million dividends since its Initial Public Offerring IPO He said the 700 million ANOH Gas Processing Company being constructed by Seplat and the Nigerian National Petroleum Company Ltd at Asaa in Imo was nearing completion Brown said the project when completed would provide gas to boost the much needed supply of power to millions of homes and businesses across Nigeria to facilitate better standard of living and drive economic growth Earlier Prof Olalekan Olafuyi Chairman SPE Nigeria Council urged African countries to priotise reduction of energy poverty in the continent while also working on decarbonising the energy system Olafuyi said that the continent s contribution to global carbon emission was relatively low He added that there was the need to utilise its huge hydrocarbon resources for industrialisation and human capital development NewsSourceCredit NAN
    Huge investment opportunities in Nigeria’s energy transition abound – Seplat
    General news2 months ago

    Huge investment opportunities in Nigeria’s energy transition abound – Seplat

    Seplat Energy Plc on Wednesday said there were huge business opportunities for investors in Nigeria’s transition to cleaner sources of energy.

    Mr Roger Brown, the Chief Executive Officer Seplat Energy Plc, made this known while delivering a keynote address at the 2022 Society of Petroleum Engineers (SPE) Nigeria Annual International Conference and Exhibition (NAICE) in Lagos.

    The News Agency of Nigeria reports that the topic of the panel session was: “Operationalising a Clean Energy Transition for Sustainable Development in Africa.

    ” Represented by Mr Effiong Okon, New Energies Director, Seplat Energy Plc, Brown said lack of access to energy by Nigeria and other African countries remain a huge opportunity for investors.

    He said Nigeria in particular had a strong potential for growth and that energy transition was an opportunity to create a sustainable future for the country.

    According to him, Nigeria’s population is projected to hit 329 million by 2040 with an electricity demand of 240TWh. Brown said there was the need for investment in gas and renewables such as hydro, solar and wind which would play key roles in Nigeria’s industrialisation in the near future.

    He said: “The greatest business opportunity ahead of us is to supply the right mix of energy to support Nigeria’s growth.

    “In doing so, we must make a positive social impact and contribute to Nigeria’s achievement of the United Nations’ Sustainable Development Goals.

    ” Brown said Seplat was in support of the Federal Government’s decision to make gas Nigeria’s energy transition fuel and would continue to make investments toward the development and utilisation of the country’s abundant gas resources.

    While listing the company’s achievement, he said Seplat had since 2011 invested a capex of $1.7 billion in the sector and had paid $445 million dividends since its Initial Public Offerring (IPO).

    He said the $700 million ANOH Gas Processing Company being constructed by Seplat and the Nigerian National Petroleum Company Ltd. at Asaa, in Imo was nearing completion.

    Brown said the project, when completed would provide gas to boost the much-needed supply of power to millions of homes and businesses across Nigeria to facilitate better standard of living and drive economic growth.

    Earlier, Prof. Olalekan Olafuyi, Chairman, SPE Nigeria Council, urged African countries to priotise reduction of energy poverty in the continent while also working on decarbonising the energy system.

    Olafuyi said that the continent’s contribution to global carbon emission was relatively low.

    He added that there was the need to utilise its huge hydrocarbon resources for industrialisation and human capital development.


    NewsSourceCredit: NAN

  •  Stakeholders in the gas sector on Tuesday called for a holistic approach in fixing Nigeria s gas crisis especially with the lingering supply shortage and price increment The stakeholders identified insecurity naira depreciation and lack of a workable pricing template as some of the factors affecting the development of Nigeria s gas sector They spoke during a panel session with the topic Harnessing the Opportunities in the Nigerian Gas Sector at the 2022 Nigerian Oil and Gas NOG conference in Abuja The News Agency of Nigeria reports that those who spoke included Mr Roger Brown the Chief Executive Officer Seplat Energy Plc Mr Phillip Mshelbila Chief Executive Officer Nigeria LNG Ltd and Mr Ed Ubong President Nigerian Gas Association NGA Brown said Nigeria was blessed with abundant gas resources but needed the right investments to maximise opportunities in the sector He said There s a wall of money ready to come into this country but they look at barriers to it and one of the biggest barrier is the currency So currency convertibility you know bringing equipment in dollars and then having a mainly Naira revenue stream These things are fixable We need to get those right there in any amount of big projects and really exciting projects And what I like about the economics here in Nigeria is that they are unbelievably good Rogers said with majority of Nigerians lacking access to energy it was a huge opportunity for both local and foreigner investors to come into the sector He said the 700 million ANOH Gas Processing Company being constructed by Seplat and the NNPC at Asaa in Imo State was near completion Rogers said the project when completed would provide gas to boost the much needed supply of power to millions of homes and businesses across Nigeria to facilitate better standard of living and drive economic growth Also Mshelbila said there was the need for a collaborative and comprehensive solution to the issue which was already captured in the Decade of Gas Plan of the Federal Government He said What many people may not be aware of is that we actually have the plan captured in the decade of gas framework It s an excellent piece of work It has looked at the demand side of natural gas in Nigeria domestic and export It has looked at the supply side then looked at infrastructure and then it has looked at the commercial or economic framework that is needed to address all of this And it has outlined very specific things that need to be done to address it The NLNG boss said the plan included construction of gas pipelines the ongoing NLNG Train 7 project as well as gas to power initiative that would drive industrial growth in the country On his part Ubong tendered an apology to Nigerians for the scarcity of gas in the country especially within the last six months There is not enough gas for cooking so the cooking gas prices have gone up There is not enough gas to fire the terminal plant so there is virtually no electricity the NGA president said He said it was very clear that upstream players were not happy with the legacy debts that they were being owed for gas supplied for power generation Ubong said My appeal to the Federal Government is let s find a way and pay this money so that there will be peace It is my suggestion that the Federal Government should then hold upstream producers The government can thereafter say I have defrayed my debt you must then bring the gas volumes that you promised so that there will be enough supply in the country NewsSourceCredit NAN
    Seplat, NLNG proffer solutions to Nigeria’s gas crisis
     Stakeholders in the gas sector on Tuesday called for a holistic approach in fixing Nigeria s gas crisis especially with the lingering supply shortage and price increment The stakeholders identified insecurity naira depreciation and lack of a workable pricing template as some of the factors affecting the development of Nigeria s gas sector They spoke during a panel session with the topic Harnessing the Opportunities in the Nigerian Gas Sector at the 2022 Nigerian Oil and Gas NOG conference in Abuja The News Agency of Nigeria reports that those who spoke included Mr Roger Brown the Chief Executive Officer Seplat Energy Plc Mr Phillip Mshelbila Chief Executive Officer Nigeria LNG Ltd and Mr Ed Ubong President Nigerian Gas Association NGA Brown said Nigeria was blessed with abundant gas resources but needed the right investments to maximise opportunities in the sector He said There s a wall of money ready to come into this country but they look at barriers to it and one of the biggest barrier is the currency So currency convertibility you know bringing equipment in dollars and then having a mainly Naira revenue stream These things are fixable We need to get those right there in any amount of big projects and really exciting projects And what I like about the economics here in Nigeria is that they are unbelievably good Rogers said with majority of Nigerians lacking access to energy it was a huge opportunity for both local and foreigner investors to come into the sector He said the 700 million ANOH Gas Processing Company being constructed by Seplat and the NNPC at Asaa in Imo State was near completion Rogers said the project when completed would provide gas to boost the much needed supply of power to millions of homes and businesses across Nigeria to facilitate better standard of living and drive economic growth Also Mshelbila said there was the need for a collaborative and comprehensive solution to the issue which was already captured in the Decade of Gas Plan of the Federal Government He said What many people may not be aware of is that we actually have the plan captured in the decade of gas framework It s an excellent piece of work It has looked at the demand side of natural gas in Nigeria domestic and export It has looked at the supply side then looked at infrastructure and then it has looked at the commercial or economic framework that is needed to address all of this And it has outlined very specific things that need to be done to address it The NLNG boss said the plan included construction of gas pipelines the ongoing NLNG Train 7 project as well as gas to power initiative that would drive industrial growth in the country On his part Ubong tendered an apology to Nigerians for the scarcity of gas in the country especially within the last six months There is not enough gas for cooking so the cooking gas prices have gone up There is not enough gas to fire the terminal plant so there is virtually no electricity the NGA president said He said it was very clear that upstream players were not happy with the legacy debts that they were being owed for gas supplied for power generation Ubong said My appeal to the Federal Government is let s find a way and pay this money so that there will be peace It is my suggestion that the Federal Government should then hold upstream producers The government can thereafter say I have defrayed my debt you must then bring the gas volumes that you promised so that there will be enough supply in the country NewsSourceCredit NAN
    Seplat, NLNG proffer solutions to Nigeria’s gas crisis
    Oil & Gas3 months ago

    Seplat, NLNG proffer solutions to Nigeria’s gas crisis

    Stakeholders in the gas sector on Tuesday called for a holistic approach in fixing Nigeria’s gas crisis, especially with the lingering supply shortage and price increment.The stakeholders identified insecurity, naira depreciation and lack of a workable pricing template as some of the factors affecting the development of Nigeria’s gas sector.They spoke during a panel session with the topic:” Harnessing the Opportunities in the Nigerian Gas Sector,” at the 2022 Nigerian Oil and Gas (NOG) conference in Abuja.The News Agency of Nigeria reports that those who spoke included Mr Roger Brown, the Chief Executive Officer, Seplat Energy Plc, Mr Phillip Mshelbila, Chief Executive Officer, Nigeria LNG Ltd. and Mr Ed Ubong, President, Nigerian Gas Association ( NGA).Brown said Nigeria was blessed with abundant gas resources but needed the right investments to maximise opportunities in the sector.He said: “There’s a wall of money ready to come into this country; but they look at barriers to it and one of the biggest barrier is the currency.“So, currency convertibility you know, bringing equipment in dollars, and then having a mainly Naira revenue stream.“These things are fixable. We need to get those right there in any amount of big projects and really exciting projects. And what I like about the economics here in Nigeria is that they are unbelievably good.”Rogers said with majority of Nigerians lacking access to energy, it was a huge opportunity for both local and foreigner investors to come into the sector.He said the $700 million ANOH Gas Processing Company being constructed by Seplat and the NNPC at Asaa, , in Imo State was near completion.Rogers said the project when completed would provide gas to boost the much-needed supply of power to millions of homes and businesses across Nigeria to facilitate better standard of living and drive economic growth.Also, Mshelbila said there was the need for a collaborative and comprehensive solution to the issue which was already captured in the Decade of Gas Plan of the Federal Government.He said: “What many people may not be aware of is that we actually have the plan captured in the decade of gas framework.“It’s an excellent piece of work. It has looked at the demand side of natural gas in Nigeria, domestic and export.“It has looked at the supply side, then looked at infrastructure, and then it has looked at the commercial or economic framework that is needed to address all of this. And it has outlined very specific things that need to be done to address it.”The NLNG boss said the plan included construction of gas pipelines, the ongoing NLNG Train 7 project as well as gas to power initiative that would drive industrial growth in the country.On his part, Ubong tendered an apology to Nigerians for the scarcity of gas in the country, especially within the last six months.“There is not enough gas for cooking, so the cooking gas prices have gone up. There is not enough gas to fire the terminal plant, so there is virtually no electricity,” the NGA president said.He said it was very clear that upstream players were not happy with the legacy debts that they were being owed for gas supplied for power generation.Ubong said: “My appeal to the Federal Government is let’s find a way and pay this money so that there will be peace.“It is my suggestion that the Federal Government should then hold upstream producers.“The government can thereafter say, ‘I have defrayed my debt, you must then bring the gas volumes that you promised so that there will be enough supply in the country.”NewsSourceCredit: NAN

  •  Seplat Energy Plc has recorded a pre tax profit of 177 million dollars for the year ended December 2021 The amount is 321 per cent higher than the 80 million dollars recorded by the company which is listed on the Nigerian Exchange and the London Stock Exchange in 2020 Mr Roger Brown Chief Executive Officer Seplat Energy Plc made the announcement while speaking with newsmen after the 9th Annual General Meeting of the company on Wednesday in Lagos Brown said Seplat s revenue increased by 38 per cent to 733 million dollars in 2021 when compared with 531 million dollars in the 2020 financial year He said the company made 618 4 million dollars from oil sales while 114 8 million dollars revenue was made from gas in 2021 According to him oil revenues went up on higher price of 70 54 dollars per barrel in 2021 compared to the 39 95 dollars per barrel it was sold in 2020 as a result of the COVID 19 pandemic Brown said the board also agreed on the payment of dividends at 10 cents per share for its shareholders which would be paid quarterly So the company has bounced back from 2020 It is in a strong footing going forward and the circumstances show that we are having a better result going into 2022 he said Brown also noted that the ongoing conflict between Russia and Ukraine had provided Nigeria with a unique opportunity to take its gas into the European market He however said Seplat remained committed to meeting the domestic gas needs of the country in order to reduce lack of access to energy which was critical to development Also Dr ABC Orjiako outgoing Board Chairman Seplat Energy Plc said the company would continue to make massive investments to grow its oil and gas production and reserves Orjiako said Seplat had paid over 2 billion dollars in taxes and royalties to the federal government and had also paid about 12 billion dollars to its production partners including the Nigerian National Petroleum Company NNPC Ltd He said the 700 million dollar ANOH Gas Processing Company being constructed by Seplat and the NNPC at Asaa in Imo was nearing completion He said the project which would produce about 300 MMscfd reinforced Seplat s commitment towards its leading position in the transition to a cleaner source of energy while providing sustainable development to its host communities Orjiako said the project when completed would provide gas to boost the much needed supply of power to millions of homes and businesses across Nigeria to facilitate better standard of living and drive economic growth He also provided update on Seplat s recent acquisition of the entire share capital of Mobil Producing Nigeria Unlimited MPNU from ExxonMobil Corporation Delaware United States of America Orjiako said the company was currently engaging the government and its partners to obtain the needed consent to finalise the deal Commenting on the recent launch of Seplat Energy Tree 4 Life Initiative in Abuja he said the project would be piloted in five states with the goal of planting one million trees annually for the first five years He said Environmental sustainability is critical to our operations The climate change situation needs to be mitigate and that is why we took up this initiative We are also targeting to take out flares in our operations by 2024 six years ahead of the time frame of 2030 set by the Federal Government NAN
    Seplat posts 7m pre-tax profit for 2021
     Seplat Energy Plc has recorded a pre tax profit of 177 million dollars for the year ended December 2021 The amount is 321 per cent higher than the 80 million dollars recorded by the company which is listed on the Nigerian Exchange and the London Stock Exchange in 2020 Mr Roger Brown Chief Executive Officer Seplat Energy Plc made the announcement while speaking with newsmen after the 9th Annual General Meeting of the company on Wednesday in Lagos Brown said Seplat s revenue increased by 38 per cent to 733 million dollars in 2021 when compared with 531 million dollars in the 2020 financial year He said the company made 618 4 million dollars from oil sales while 114 8 million dollars revenue was made from gas in 2021 According to him oil revenues went up on higher price of 70 54 dollars per barrel in 2021 compared to the 39 95 dollars per barrel it was sold in 2020 as a result of the COVID 19 pandemic Brown said the board also agreed on the payment of dividends at 10 cents per share for its shareholders which would be paid quarterly So the company has bounced back from 2020 It is in a strong footing going forward and the circumstances show that we are having a better result going into 2022 he said Brown also noted that the ongoing conflict between Russia and Ukraine had provided Nigeria with a unique opportunity to take its gas into the European market He however said Seplat remained committed to meeting the domestic gas needs of the country in order to reduce lack of access to energy which was critical to development Also Dr ABC Orjiako outgoing Board Chairman Seplat Energy Plc said the company would continue to make massive investments to grow its oil and gas production and reserves Orjiako said Seplat had paid over 2 billion dollars in taxes and royalties to the federal government and had also paid about 12 billion dollars to its production partners including the Nigerian National Petroleum Company NNPC Ltd He said the 700 million dollar ANOH Gas Processing Company being constructed by Seplat and the NNPC at Asaa in Imo was nearing completion He said the project which would produce about 300 MMscfd reinforced Seplat s commitment towards its leading position in the transition to a cleaner source of energy while providing sustainable development to its host communities Orjiako said the project when completed would provide gas to boost the much needed supply of power to millions of homes and businesses across Nigeria to facilitate better standard of living and drive economic growth He also provided update on Seplat s recent acquisition of the entire share capital of Mobil Producing Nigeria Unlimited MPNU from ExxonMobil Corporation Delaware United States of America Orjiako said the company was currently engaging the government and its partners to obtain the needed consent to finalise the deal Commenting on the recent launch of Seplat Energy Tree 4 Life Initiative in Abuja he said the project would be piloted in five states with the goal of planting one million trees annually for the first five years He said Environmental sustainability is critical to our operations The climate change situation needs to be mitigate and that is why we took up this initiative We are also targeting to take out flares in our operations by 2024 six years ahead of the time frame of 2030 set by the Federal Government NAN
    Seplat posts 7m pre-tax profit for 2021
    General news5 months ago

    Seplat posts $177m pre-tax profit for 2021

    Seplat Energy Plc has recorded a pre-tax profit of 177 million dollars for the year ended December 2021.

    The amount is 321 per cent higher than the 80 million dollars recorded by the company, which is listed on the Nigerian Exchange and the London Stock Exchange, in 2020.

    Mr Roger Brown, Chief Executive Officer, Seplat Energy Plc, made the announcement while speaking with newsmen after the 9th Annual General Meeting of the company on Wednesday in Lagos.

    Brown said Seplat’s revenue increased by 38 per cent to 733 million dollars in 2021 when compared with 531 million dollars in the 2020 financial year.

    He said the company made 618.4 million dollars from oil sales while 114.8 million dollars revenue was made from gas in 2021.

    According to him, oil revenues went up on higher price of 70.54 dollars per barrel in 2021 compared to the 39.95 dollars per barrel it was sold in 2020 as a result of the COVID-19 pandemic.

    Brown said the board also agreed on the payment of dividends at 10 cents per share for its shareholders, which would be paid quarterly.

    “So, the company has bounced back from 2020. It is in a strong footing going forward and the circumstances show that we are having a better result going into 2022,” he said.

    Brown also noted that the ongoing conflict between Russia and Ukraine had provided Nigeria with a unique opportunity to take its gas into the European market.

    He, however, said Seplat remained committed to meeting the domestic gas needs of the country in order to reduce lack of access to energy, which was critical to development.

    Also, Dr ABC Orjiako, outgoing Board Chairman, Seplat Energy Plc, said the company would continue to make massive investments to grow its oil and gas production and reserves.

    Orjiako said Seplat had paid over 2 billion dollars in taxes and royalties to the federal government and had also paid about 12 billion dollars to its production partners, including the Nigerian National Petroleum Company (NNPC) Ltd.

    He said the 700 million dollar ANOH Gas Processing Company, being constructed by Seplat and the NNPC at Asaa, in Imo, was nearing completion.

    He said the project, which would produce about 300 MMscfd, reinforced Seplat’s commitment towards its leading position in the transition to a cleaner source of energy, while providing sustainable development to its host communities.

    Orjiako said the project, when completed, would provide gas to boost the much-needed supply of power to millions of homes and businesses across Nigeria to facilitate better standard of living and drive economic growth.

    He also provided update on Seplat’s recent acquisition of the entire share capital of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil Corporation, Delaware, United States of America.

    Orjiako said the company was currently engaging the government and its partners to obtain the needed consent to finalise the deal.

    Commenting on the recent launch of `Seplat Energy Tree 4 Life Initiative’ in Abuja, he said the project would be piloted in five states with the goal of planting one million trees annually for the first five years.

    He said: “Environmental sustainability is critical to our operations. The climate change situation needs to be mitigate, and that is why we took up this initiative.

    “We are also targeting to take out flares in our operations by 2024, six years ahead of the time frame of 2030 set by the Federal Government.”

    (NAN)