In July 2010 Etablissements Maurel et Prom acquired a 45% shareholding in Seplat and was latterly followed by certain other pre-IPO investors.
In July 2010 the Company acquired a 45% working interest in, and was appointed operator of, a portfolio of three onshore producing oil and gas leases, OMLs 4, 38 and 41. Located in the prolific western delta basin of Edo and Delta states the three OMLs contain the producing Oben, Ovhor, Sapele, Okporhuru and Amukpe fields. Initially Seplat formed a JV partnership with NNPC, until the NNPC transferred its 55% interest to NPDC.
Today, Seplat operates the blocks on behalf of the Seplat/NPDC joint venture.
In June 2013, Newton Energy, a wholly owned subsidiary of Seplat reached an agreement with Pillar Oil to acquire a 40% participating interest (non operated) in the Umuseti/Igbuku Fields (OPL 283).
Other key events in Seplat’s history can be found below.