SEPLAT
is an independent oil and gas exploration and production company
incorporated and operating in Nigeria with a strategic focus on Nigeria.
The company was founded in 2009 by Shebah Petroleum Development Company
Limited and Platform Petroleum (Joint Ventures) Limited for the purpose
of investing in Nigerian oil and gas opportunities.
Maurel & Prom, a
French independent oil company, subsequently acquired a 45 per cent
equity interest in SEPLAT; this interest was later spun-off to form
Maurel & Prom Nigeria S.A (now Maurel & Prom International)
In
July 2010, it acquired a 45 per cent participating interest in three
producing assets (OMLs 4, 38 and 41) and was appointed operator of these
portfolio of three on-shore producing oil and gas leases located in the
prolific western Niger Delta basin of Edo and Delta states. The 45%
participating interest in these OMLs were acquired from SPDC, Total
(E&P) Nigeria and NAOC. At the beginning, SEPLAT was in JV
partnership with NNPC (Nigerian National Petroleum Co-operation) until
NNPC transferred its 55% interest to NPDC (Nigeria Petroleum Development
Company). SEPLAT is the operator of these assets in the NPDC/SEPLAT
Joint Venture.
SEPLAT has become a leading indigenous oil and
gas operator in Nigeria. The company has increased its production and
reserves year-on-year and has grown revenues and net profit in each year
since it commenced operations. The company’s production has maintained a
remarkable growth trajectory, rising from a gross operated oil
production of 14,000 barrels per day at inception to its current daily
crude oil production of around 60,000 barrels per day. The OMLs have a
combined proven and probable reserve in excess of 500 million barrels of
liquid hydrocarbon and gas reserves in excess of 1.6TCF. These provide a
platform for significant potential growth.
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