Seplat Energy reaffirms long-term growth
Orisemeke Benjamin
Seplat Energy Plc, a leading indigenous Nigerian energy company listed on the Nigerian Exchange Limited and the London Stock Exchange, has reaffirmed its commitment to disciplined growth, sustained shareholder returns, and national energy security.
At the Annual General meeting, shareholders approved the Company’s 2025 audited financial statements and a final dividend of $8.3 cents per share, bringing the total dividend for 2025 to US25.0 cents per share.
Shareholders also ratified key board appointments made during the year.
In his address to shareholders, Chairman, Senator Udoma Udo Udoma, highlighted that Seplat Energy has entered a new phase of growth, following the successful integration of Mobil Producing Nigeria Unlimited (MPNU) and its offshore assets.
Referencing the 2025 Integrated Report theme — “Delivering at Scale: Powering Nigeria’s Future”— the Chairman noted that: the Company has successfully transitioned from a primarily onshore operator to a balanced onshore and offshore energy company.
Integration of the offshore business has driven significant production growth and improved cash flow.
Seplat Energy is now better positioned to support Nigeria’s energy security and economic development.
Describing the AGM as a “milestone moment,” he emphasized the delivery of three key commitments to include completion of the MPNU acquisition, successful integration of the combined business, and consolidation into a single headquarters to enhance efficiency and cost discipline.
Seplat Energy reported strong operational performance in 2025, underpinned by its expanded asset base: Average production increased by 148 per cent to 131,506 boepd (from 52,947 boepd in 2024) Offshore assets contributed 76,023 boepd; Restoration of 49 previously idle wells added approximately 48.6 kbopd to gross production.
These results reflect disciplined execution and the operational benefits of the enlarged portfolio.
Chief Executive Officer, Roger Brown, said “Our priority is disciplined execution across our expanded portfolio. This is not growth for its own sake, but growth that is responsibly financed, safely delivered, and capable of generating sustainable cash flow.”
He added that the Company’s strengthened platform now comprises: 11 blocks (7 onshore, 4 offshore); 48 producing fields.
Looking ahead, Seplat Energy reaffirmed its medium- to long-term strategic targets, including up to $3 billion in capital investment over the next five years increasing production to approximately 200 kboepd by 2030
Generating $5–6 billion in post-tax operating cash flow, returning at least $1 billion in dividends to shareholders (2026–2030) which is subject to oil prices above $65/bbl.
These targets reinforce the Company’s commitment to balancing growth, financial discipline, and shareholder value creation.
