By Udeme Akpan, Energy Editor

Seplat Energy Plc, a Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, has reported a profit before tax (PBT) of $209.9 million in its half year 2022, a 238 per cent year-on-year rise from $62.1 million.

In the company’s unaudited results for the six months ended June 30, 2022, revenue for the period under review also increased by 71 per cent to $527 million from $308.8 million year-on-year, with a dividend of US$2.5 cents per share declared.

Commenting on the results, which were released to the NSE and LSE on Thursday, Roger Brown, Chief Executive Officer, Seplat Energy Plc stated: “Production increased strongly in the second quarter, achieving 52.4 kboepd across our operations, and we expect to maintain higher volumes for the rest of the year now that we plan to export liquids through the more secure Amukpe-Escravos Pipeline.”