Seplat Energy Plc, one of Nigeria’s leading indigenous oil and gas companies, says it currently supplies 30% of the country’s domestic gas demand, helping to drive energy security and industrial growth, according to a senior executive.
Speaking at the 13th edition of the BusinessDay CEO Forum Nigeria, held at the Federal Palace Hotel in Lagos, Seplat’s COO and Executive Director, Samson Ezugworie, disclosed that the company contributes a significant daily gas volume to support the Nigerian economy.
“Seplat Energy today produces about 30% of the domestic gas needs of this country, again powering progress, powering the country, powering the industries.
“And [then], this is what some of the key industries in the countries are leveraging to grow,” Ezugworie said during a panel session with executives of other local oil companies.
“But it is not enough,” the oil executive noted, while attributing the progress achieved to technological innovation, which he described as a key driver of Seplat’s gas growth.
“Since 2009/10 when Seplat Energy started its operations in Nigeria, we have seen technology as a key business enabler and a key driver. And we have actually leveraged that in a number of ways.”
“In the domestic gas space for instance, when Seplat took over one of the facilities in Oben, it was a 90 million scuffs capacity.
“We moved quickly and transformed that to 465 million scuffs per day capacity; today producing at export capacity daily gas into the domestic market.”
Seplat’s positive gas outlook
Since its inception, Seplat Energy (dual-listed on the Nigerian and the London stocks) has grown into one of the country’s top oil and gas producers.
The company last year concluded a $1.2 billion acquisition of ExxonMobil’s onshore and shallow water assets in Nigeria, significantly boosting its operational footprint.
Following that deal, Seplat announced a $320 million investment plan to revive hundreds of dormant oil wells. And its latest results have justified the move.
According to its Q1 2025 financial report, total gas production surged by 50%, rising from 10 billion cubic feet (Bcf) in Q4 2024 to 14.9 Bcf.
During the quarter, Seplat began gas production at the Sapele Integrated Gas Plant and increased output from its Oben gas project, following a successful turnaround maintenance.
Speaking at the company’s last annual meeting in Lagos, Seplat Energy’s Chairman, Udoma Udo Udoma, emphasized the importance of gas in Seplat’s long-term strategy.
“Our gas division will grow rapidly with enormous resources offshore, as well as our well-established onshore gas business,” Udoma said.
Meanwhile, Seplat is co-developing a 300 million cubic feet per day gas processing facility in Imo State, which is expected to become operational in the second half of 2025.
The $420 million plant is one of Nigeria’s most ambitious greenfield gas projects and is designed to supply dry gas, condensate, and LPG to both domestic and international markets.
