Seplat, Co-founded By Austin Avuru, Builds Mega Gas Facility

Seplat Energy has installed over 850MMscfd of gas infrastructure to boost domestic supply and reduce Nigerias reliance on imported fuel.

The 800 million MPNU acquisition gives Seplat access to untapped gas reserves, aligning with Nigerias Decade of Gas initiative.

Seplat cut bond debt by 87 through a 567.46 million repurchase, supporting plans to grow gas output by 390MMscfd in 2024.

Seplat Energy, the Nigerian energy company co-founded by Austin Avuru, is making bold moves to boost the countrys energy capacity. The company announced it has installed more than 850 million standard cubic feet per day MMscfd of gas infrastructurepart of its efforts to meet Nigerias growing demand for domestic energy.

In a statement on Sunday, Seplats Chief Operating Officer, Samson Ezugworie, said the company remains committed to tackling energy poverty while supporting long-term development. He described the gas infrastructure as central to Seplats goal of improving access to reliable and affordable energy across the country.

Over the years, weve installed more than 850MMscfd of gas infrastructure focused on meeting domestic supply needs, Ezugworie said. He added that this figure doesnt include reserves from Mobil Producing Nigeria Unlimited MPNU, a major acquisition still awaiting final regulatory approval.

The 800 million acquisition of MPNU from ExxonMobil is seen as a game-changer for Seplat. This acquisition will give the company access to extensive untapped gas reserves. Ezugworie said a large portion of this gas will be used to power the national grid and supply industrieskey steps toward reducing Nigerias dependence on imported fuel.

Were not just looking at production volume, he said. We want to help deepen gas usage in Nigeria and support long-term industrial growth. He noted that this approach aligns closely with the governments Decade of Gas initiative, which aims to make gas the countrys main transition fuel.