Overview

Since inception, Seplat has acquired an attractive portfolio of assets in the prolific Niger Delta region.

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Block Seplat % Operator Major fields Gross production1 Net production2
1Average gross production for 2015 (boepd).2Average net production for 2015 (boepd).
OML 4 45% Seplat Oben 43,717 19,673
OML 38 45% Seplat Ovhor, Amukpe, Okporhuru 23,420 10,539
OML 41 45% Seplat Sapele, Ovhor 21,374 9,618
OML 283 40% Pillar Umuseti, Igbuku 2,784 1,113
OML 53 40% Seplat Jisike, Ohaji South 1,715 686
OML 55 N/A Seplat, BelamaOil Robertkiri, Idama, Inda 7,746 1,743
Total 100,756 43,372

Seplat has a 45% working interest in OMLs 4, 38 and 41 which are located in Edo (OML 4) and Delta (OMLs 38 and 41) States onshore Nigeria. Seplat is operator of the three blocks on behalf of the NPDC/Seplat Joint Venture and, to date, is the only company that has secured NPDC approval for operatorship over blocks acquired as part of recent divestment programmes by the major IOCs. As operator, Seplat is empowered with running the day-to-day operations activities and is able to set production and operational improvement goals and lead exploration activities, subject to the approval of its partner.

Production is predominantly from seven fields, namely Amukpe, Oben, Okporhuru, Ovhor, Orogho, Sapele and Sapele Shallow, and the partners aim to bring additional fields onstream in the future.

Since acquiring the blocks in July 2010, the Company has consistently grown oil production, primarily through the drilling of new wells and employing advanced and proven technologies to increase production in mature fields. The Company also became the first operator in the Niger Delta to install a LACT unit, enabling significantly improved measurement of produced oil prior to injection into the Trans Forcados Pipeline system. This has greatly reduced the reconciliation losses applied to the Company’s oil production to a level of approximately 10% to 12%, compared to an average of approximately 18% to 20% prior to installation of the LACT unit.

Alongside the oil business, the Company has also prioritised the commercialisation and development of the substantial gas reserves and resources identified at OMLs 4, 38 and 41 and is today a leading supplier of gas to the domestic market in Nigeria. Going forward, Seplat plans to further increase its gas production and processing capacity to help meet Nigeria’s growing demand, particularly in the gas to power sector. A major step forward in this respect is the ongoing modular build-up of processing capacity at the Oben facility to create a strategic gas hub ideally located to aggregate and supply gas to Nigeria’s main demand centres.

For the latest production update, please see the Company’s most recent reported information here.

For the latest reserves update, please see the Company’s most recent reported information here.