How we create value
Our business model leverages our core strengths and experience to create long-term value and shared prosperity for all our stakeholders.
Our business model leverages our core strengths and experience to create long-term value and shared prosperity for all our stakeholders.
of our production is Seplat operated
multi-discipline employees
Cash at bank (as at 31/12/19)
LTIF
Corporate Governance Rating System score
invested in our communities since 2010
To date, we have acquired direct interests in five blocks and a revenue interest in one further block, located in the onshore and swamp areas of the Niger Delta. We will continue to pursue new acquisition and farm-in targets to help us grow reserves and production.
We will continue to appraise and test upside at our producing fields and also have a number of discovered but undeveloped discoveries on our blocks, some of which may be considered as appraisal targets in the future.
In recent years, Seplat has been one of the most active drillers in Nigeria and has successfully undertaken and completed significant facilities and infrastructure projects on a fast-track timetable and within budget.
Seplat has consistently grown oil production capacity and has more than doubled gas production following significant expansion of the Oben gas processing plant. Our oil production is marketed and sold internationally to offtakers at the export terminal while our gas production is sold under a number of gas sales agreements wholly into the domestic market.
The end result of our core activities is a profitable underlying asset base that generates strong margin cash flow and within which we have numerous organic reinvestment opportunities to selectively redeploy this cash flow. We combin this with our access to inorganic growth opportunities, for which we may need to secure additional external capital, to generate sustainable long term value for our multitude of stakeholders.
We have assembled a multi-disciplinary team that has an in-depth knowledge of the areas in which we operate, both below and above the ground. When considering both our organic and inorganic capital investment opportunities, we benchmark and high grade each option in the context of the whole portfolio so that we can be sure that each dollar of capital deployed is allocated to those opportunities that meet our technical, commercial and strategic requirements.
Paid out to Shareholders in 2019
Payments and production entitlement to government reported in 2019
of Nigeria’s current power generation can be underpinned by our gas production
Jobs created via Seplat operations
employees trained; 13,300 hours of training