Since the restart of the EAP complex, operations have met expectations. Gross NGL sales in late November increased more than 100 percent to 6,850 barrels of oil equivalent (boe), with Seplat’s net working interest at about 3,500 boe. Volumes are expected to rise further to around 11,000 boe (~5,700 boe net working interest) as the facility reaches its full operational capacity.
Six-week operation completed safely
The project encompassed load-out, lifting, installation, tie-in, commissioning, and start-up activities over six weeks in November 2025. More than 2.2 million man-hours were recorded, with no safety incidents.
Roger Brown, Seplat’s chief executive officer, said, “Completing this capital project on budget demonstrates the strength of our operations and project teams. The new IGE unit is essential for efficient NGL processing. Pentane represents some of our highest margin production, while butane is sold locally, expanding energy access and supporting Nigeria’s clean cooking initiatives.”
Brown also highlighted the role of collaboration with partners and support from local communities, noting that the project supports growth offshore and delivers value to stakeholders.
Strong financial performance and growth
Founded in 2009 by Avuru and Ambrosie Orjiako, Seplat has grown into Nigeria’s largest listed energy firm, with operations concentrated in the Niger Delta. Avuru holds 8.5 percent of the company, roughly 50 million shares.
For the nine months ended Sept. 30, 2025, Seplat reported revenue of $2.18 billion, up from $715 million a year earlier. Profit after tax rose to $95.1 million from $35.3 million. In recent months, Seplat increased crude output by 33,000 barrels daily after reviving 26 wells and accelerated production following its acquisition of Mobil assets.
Credit: billionaires.africa
