DIVESTMENT: We’ve not terminated SPA with ExxonMobil — Seplat

•Says ‘Seplat has enormous chance to explore renewable energy solutions’

By Emeka Anaeto

Seplat Energy Plc, leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, as well as other energy producers in Africa, are projected to grow more given the rising demand for energy in Africa.

Africa’s energy demand is also expected to see increased growth over the decade amidst current realities.

Global management consulting firm, Mackinsey & Company disclosed this at the Seplat Industry Lecture and Dr. ABC Orjiako send forth event held in Lagos last weekend.

Associate Partner and Co-Lead of West Africa Oil and Gas Practice, McKinsey & Company, Mr Oliver Onyekweli, while making his presentation at the lecture themed, ‘The Future of African Oil & Gas: Positioning for the Energy Transition’, stated: “There will be rising demand for fossil fuels in Africa driven by industrialization and population growth. Energy demand growth will be led by Nigeria, and this will create tailwinds for energy suppliers like Seplat Energy.

“Africa’s growing energy demand also creates opportunities for Seplat to explore renewable energy solutions such as solar, blue hydrogen,” he added.

He further stated: “Companies like Seplat Energy are well positioned to pick up producing assets going forward, provided they can maintain operational excellence. “Significant domestic gas demand is a positive tailwind for Seplat Energy’s ANOH project and gas’ cleaner carbon profile (relative to diesel) should make gas projects easier to finance since it can be paired with LPG.

Orjiako, the Pioneer and immediate past Chairman of Seplat Energy, lauded all the company’s stakeholders for the huge successes recorded so far in the company since inception, saying they were products of hard-work, sleepless nights and resilience.

Commending all stakeholders of Seplat Energy for the great achievements recorded so far, the Chairman, Seplat Energy, Mr. Basil Omiyi, said year 2022 marks a major turning point for Seplat Energy as Dr. Orjiako retires from the Board after leading the Company to achieving monumental milestones over the last 13 years, including nine years as a listed entity.

In his remarks, the Chief Executive of Seplat Energy, Mr. Roger Brown, said  Dr. Orjiako drove Seplat Energy’s long-term imperative with regards to global transition away from fossil fuels towards cleaner and renewable energies, advocating a Just Transition, which is to be conducted at an appropriate pace.

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