KEY POINTS
- Seplat Energy 2025 revenue rose 144 percent to $2.73 billion.
- Production increased 148 percent to 131,506 boepd.
- Total dividend for 2025 reached 25 cents per share.
Seplat Energy Plc reported a sharp rise in earnings for 2025, as a full year of offshore operations and stronger gas output drove revenue and cash flow higher.
The Nigerian oil and gas producer said revenue climbed 144.2 percent to $2.73 billion for the year ended Dec. 31, 2025, from $1.12 billion in 2024, according to audited results filed with the Nigerian Exchange on Thursday. The Seplat Energy 2025 revenue performance reflects the first full year of contribution from offshore assets following consolidation.
Cash generated from operations rose 276 percent to $1.17 billion, while capital expenditure stood at $266.8 million in cash terms. Net debt declined 25 percent year on year to $673.3 million from $897.8 million.
Seplat Energy 2025 Revenue Growth
Group production averaged 131,506 barrels of oil equivalent per day, up 148 percent from 52,947 boepd in 2024. Offshore consolidation accounted for much of the increase, alongside 14 percent production growth from onshore operations.
Onshore output benefited from completion of the Sapele Gas Plant and new wells. The ANOH gas plant delivered first gas in January 2026 and is producing between 50 million and 70 million standard cubic feet per day, with about 60,000 barrels of condensate currently in storage.
Chief Executive Officer Roger Brown said the results demonstrate Seplat’s capacity to operate at scale across offshore and onshore assets, citing the IGE replacement project and Sapele plant as milestones.
Dividends and 2030 Target
Shareholders are set to receive higher payouts following the Seplat Energy 2025 revenue surge. The company declared a fourth-quarter dividend of 8.3 cents per share, including a 5.0-cent regular dividend and a 3.3-cent special dividend. Total dividends for the year reached 25.0 cents per share, equivalent to $150 million, up 52 percent from 2024.
According Billionaires Africa, management has contracted a jack-up drilling rig expected at Oso in the third quarter to begin a multi-year campaign. Seplat aims to grow working interest production to 200,000 boepd by 2030.
Brown said stronger cash flow and reduced debt costs position the company to deliver on its target of returning $1 billion cumulatively to shareholders by the end of the decade.
