Seplat Energy Publishes Prospectus for Acquisition of Mobil Producing Nigeria Unlimited (MPNU)
Key Announcement
On 9 December 2024, Seplat Energy Plc, a leading Nigerian energy company listed on both the Nigerian Exchange and the London Stock Exchange, announced the publication of its prospectus for the acquisition of Mobil Producing Nigeria Unlimited (MPNU). The prospectus follows approval from the UK Financial Conduct Authority (FCA).
️ Transformative Acquisition Highlights
1. Completion Date: The acquisition is expected to close on 12 December 2024.
2. Production Impact: The transaction will more than double Seplat Energy’s production capacity, increasing output to 120,000 barrels of oil equivalent per day.
3. Strategic Value:
• Strengthens Seplat’s position as Nigeria’s leading indigenous energy company.
• Unlocks growth and profitability opportunities in a proven, high-quality hydrocarbon basin.
4. Economic Contribution: The acquisition will significantly benefit the Nigerian economy by enhancing local energy production and infrastructure.
Broader Implications
The acquisition of MPNU is a major milestone in Seplat Energy’s journey to becoming a dominant force in the global energy market. It reflects the company’s commitment to:
• Driving energy sustainability.
• Delivering value to shareholders.
• Supporting Nigeria’s economic development by leveraging high-quality energy assets.
Key Announcement
On 9 December 2024, Seplat Energy Plc, a leading Nigerian energy company listed on both the Nigerian Exchange and the London Stock Exchange, announced the publication of its prospectus for the acquisition of Mobil Producing Nigeria Unlimited (MPNU). The prospectus follows approval from the UK Financial Conduct Authority (FCA).
️ Transformative Acquisition Highlights
1. Completion Date: The acquisition is expected to close on 12 December 2024.
2. Production Impact: The transaction will more than double Seplat Energy’s production capacity, increasing output to 120,000 barrels of oil equivalent per day.
3. Strategic Value:
• Strengthens Seplat’s position as Nigeria’s leading indigenous energy company.
• Unlocks growth and profitability opportunities in a proven, high-quality hydrocarbon basin.
4. Economic Contribution: The acquisition will significantly benefit the Nigerian economy by enhancing local energy production and infrastructure.
Broader Implications
The acquisition of MPNU is a major milestone in Seplat Energy’s journey to becoming a dominant force in the global energy market. It reflects the company’s commitment to:
• Driving energy sustainability.
• Delivering value to shareholders.
• Supporting Nigeria’s economic development by leveraging high-quality energy assets.