KEY POINTS
- Seplat Energy inlet gas exchanger upgrade lifts NGL output.
- Seplat Energy inlet gas exchanger project records zero incidents.
- Seplat Energy inlet gas exchanger boosts offshore performance.
Seplat Energy Plc has lifted offshore output after completing the replacement of the inlet gas exchanger module on its East Area Project platform in OML 67, marking its most significant offshore capital undertaking for 2025.
The upgrade, central to extracting natural gas liquids, has helped stabilise operations since the EAP complex resumed production.
Rising output from Seplat Energy inlet gas exchanger
Gross NGL sales in late November more than doubled to 6,850 barrels of oil equivalent, giving Seplat a net working interest of about 3,500 boe. Analysts project output to climb toward 11,000 boe roughly 5,700 boe net as the rebuilt system reaches full operating capacity.
Workers completed the six-week campaign covering load-out, lifting, installation, tie-ins, commissioning and start-up in November without any safety incidents across more than 2.2 million man-hours.
Chief Executive Officer Roger Brown said the on-budget delivery reinforces the company’s project discipline. He described the new unit as vital for efficient NGL processing, noting that pentane yields some of Seplat’s highest margins while butane is sold domestically to support Nigeria’s clean-cooking efforts. Brown credited project partners and local community backing for the smooth execution.
Founded in 2009 by Austin Avuru and Ambrosie Orjiako, Seplat has developed into Nigeria’s biggest listed energy company with core assets in the Niger Delta. Avuru retains about 8.5 percent equity, or roughly 50 million shares.
Strong financial performance and upstream expansion
The company posted revenue of $2.18 billion for the nine months to September 2025, up from $715 million a year earlier. Profit after tax climbed to $95.1 million, compared with $35.3 million in 2024.
Seplat has also raised crude production by 33,000 barrels per day after reviving 26 wells, benefiting from improved uptime and accelerated volumes following its acquisition of Mobil’s onshore assets.
Management expects the offshore upgrade to support further growth as it strengthens output from key fields and improves reliability across the company’s processing network.
