The Seplat Energy’s Chief Executive Officer, Mr. Roger Brown, says indigenous oil companies have demonstrated the capacity and financial strength to take over and manage asset of multinational oil companies.
This was contained in a statement signed by Stanley Opara, Manager, Corporate Communications, External Affairs & Social Performance, Seplat Energy Plc.
Brown represented by the company’s Chief Operating Officer, Mr. Samson Ezugworie, made the remarked at the 13th Annual BusinessDay CEO Forum Nigeria, With the theme “Nigeria: From Reform to Recovery,”
there have been series of divestments by oil firms in recent times.
It would be recalled that Seplat Energy Offshore Limited recently completed the acquisition of Mobil Producing Nigeria Unlimited in a deal worth $1.2bn.
The Seplat boss noted that international oil companies exiting the onshore and shallow water areas and transferring them to indigenous players.
“We have demonstrated both the capacity and financial strength to take on these assets and run with them. It’s like the stars are aligning and the outlook is even better than what we had before,” he said.
He said the rise in rig activity is a strong indicator of sectoral growth.
“Rig count in Nigeria was eight in 2021. Today, it stands at about 46.That tells you a lot about the level of activity, investor interest, and capital flowing back into the country,” he added.
This, he said, is a strong signal of recovery and momentum in the oil sector.
Brown who shared perspectives on Nigeria’s oil and gas transformation, the increasing role of indigenous companies, noted Seplat has been leveraging technology to enhance operations and build in-country capacity.
“If you look at the trajectory, I would personally say that the outlook is very excellent, and we are well-positioned for a transformative oil and gas industry,” he said.
He assured that as the nation navigates the path from reform to recovery, Seplat remains firmly committed to delivering sustainable value to stakeholders, communities, and the broader economy.
