Seplat Energy To Boost FX Earnings With Gas Exports

Seplat Energy Plc has announced plans to start exporting gas, aiming to increase foreign exchange earnings and deliver greater value to stakeholders.

This strategic move is expected to positively impact the company’s financial performance and contribute to the country’s economy.

The Managing Director of Seplat Producing Nigeria Unlimited (SEPNU), Dotun Isiaka, disclosed this during a panel session organised by the Petroleum Technology Association of Nigeria (PETAN) at the ongoing Offshore Technology Conference (OTC) in Houston, Texas in United States, on Wednesday, May 7, 2025.

The session moderated by the Executive Chairman of AA Holdings, Austin Avuru, focused on Seplat’s future in Nigeria’s gas sector.

According to him, this follows its recent acquisition of Mobil Producing Nigeria Unlimited (MPNU), which holds significant gas reserves capable of serving both export and domestic markets.

Isiaka said: “The answer is really simple, we are focused on both domestic supply and export.

“However, let me emphasise that Seplat is committed to energy access for all Nigerians. We believe gas should be the primary driver of the nation’s economy.”

He underlined the importance of indigenous leadership in the sector, stating that expertise must be built from within.

“Seplat is at the forefront, playing a leadership role. But this requires collaboration across the entire value chain,” Isiaka added.

Providing an update on Seplat’s gas reserves and production, Isiaka stated: “Onshore, we currently have a combined processing capacity of around 550 million standard cubic feet per day (MMscfd) between the Oben and Sapele gas plants.

“However, we’re pushing about 200 million cubic feet short of that capacity, so we need to bring in more gas from nearby suppliers.”