Seplat Energy (Seplat) is a Nigerian independent oil and gas company listed on both the London and Nigerian Stock Exchanges with assets in the Niger Delta.
Seplat was formed as Seplat Petroleum Development Company in June 2009 through the partnership of Shebah Petroleum Development Company Limited and Platform Petroleum Joint Ventures Limited to specifically pursue upstream oil and gas opportunities in Nigeria, and in particular divestment opportunities arising out of the incumbent Major IOC's portfolios.
In July 2010, SEPLAT acquired a 45 percent interest in, and was appointed operator of, three onshore producing oil and gas blocks in the Niger Delta (OMLs 4, 38 and 41). SEPLAT subsequently grew oil production to a peak rate of 85,200 barrels (13,550 m3 ) of oil per day and had almost doubled its remaining reserves at the end of 2015. In June 2013, SEPLAT acquired an interest in the Umuseti/Igbuku marginal field area within OPL 283 and in February 2015 acquired interests in OML 53 and OML 55.
Alongside its oil business, the company has also developed its gas reserves. In 2015–16, SEPLAT installed and commissioned a new 375 million cu ft/d (10.6 million m3/d) gas processing facility at its Oben hub, taking gross overall processing capacity to 525 million cu ft/d (14.9 million m3/d).
On February 8, 2015, it was announced that Seplat had purchased stakes in two onshore Nigeria blocks from Chevron Nigeria for a combined $391.6 million. [1]
Seplat changed its name from Seplat Petroleum Development Company to Seplat Energy in 2021.
Seplat was working toward a purchase of ExxonMobil Nigeria's offshore shallow-water assets for $1.3 billion to $1.6 billion in August 2022, pending regulatory hurdles. [2] [3]
Chevron Corporation is an American multinational energy corporation predominantly specializing in oil and gas. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California, it is headquartered in San Ramon, California, and active in more than 180 countries. Within oil and gas, Chevron is vertically integrated and is involved in hydrocarbon exploration, production, refining, marketing and transport, chemicals manufacturing and sales, and power generation.
Nigeria is the second largest oil and gas producer in Africa. Crude oil from the Niger Delta basin comes in two types: light, and comparatively heavy – the lighter has around 36 of API gravity while the heavier has 20–25 of API gravity. Both types are paraffinic and low in Sulphur. Nigeria's economy and budget have been largely supported from income and revenues generated from the petroleum industry since 1960. Statistics as at February 2021 shows that the Nigerian oil sector contributes to about 9% of the entire GDP of the nation. Nigeria is a major exporter of crude oil and petroleum products to the United States of America. In 2010, Nigeria exported over one million barrels per day to the United States, representing 9% of the U.S. total crude oil and petroleum products imports and over 40% of Nigeria exports.
Environmental issues in the Niger Delta are caused by its petroleum industry. The delta covers 20,000 km2 (7,700 sq mi) within wetlands of 70,000 km2 (27,000 sq mi) formed primarily by sediment deposition. Home to 20 million people and 40 different ethnic groups, this floodplain makes up 7.5% of Nigeria's total land mass. It is the largest wetland and maintains the third-largest drainage basin in Africa. The Delta's environment can be broken down into four ecological zones: coastal barrier islands, mangrove swamp forests, freshwater swamps, and lowland rainforests. Fishing and farming are the main sources of livelihoods for majority of her residents.
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Prior to its acquisition by Exxon, InterOil Corporation was an oil and gas company with a primary focus on Papua New Guinea. InterOil's assets included one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province. The company employed more than 2000 staff and contractors. Its main offices were in Singapore and Port Moresby. InterOil was formed in 1997 and was incorporated in Canada. The company was listed on the New York Stock Exchange and the Port Moresby Stock Exchange. It had a market capitalization of $2.8 billion.
Oando Plc is a Nigerian multinational energy company operating in the upstream, midstream and downstream.
Addax Petroleum was established in 1994 and since August 2009 has been a subsidiary of the Sinopec Group, one of the largest oil and gas producers in China, the biggest oil refiner in Asia, and the third largest worldwide. Addax Petroleum was an international gas and oil production and exploration company mainly focused on the Middle East, the North Sea, and Africa. Since its founding, the company has become one of the largest oil producers in West Africa.
Okoro Oilfield is an oilfield located 12 kilometres (7.5 mi) offshore Nigeria in an average water depth of 14 metres (46 ft) in the eastern Niger Delta. The field is located in OML 112 block. The Okoro Oilfield is operated and owned entirely by Amni.
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Eland Oil & Gas PLC was a Nigeria focused upstream oil and natural gas exploration and production company with operational offices in Abuja, Nigeria and Aberdeen, Scotland.
Puma Energy is a Swiss multinational mid- and downstream oil company, majority-owned by Singapore-based Swiss company Trafigura.
Njaba River, in the Niger Delta Basin is a major tributary of Oguta Lake in Nigeria's South East Imo State. With 4.5m mean depth, the river has a total stream length of 78.2 km, basin area of 145.63 square kilometers and an average specific discharge of about 1700 m3/hour.
Izombe in the northeast of Niger Delta is an oil town in Njaba River basin, Imo State Southeastern Nigeria.
Benedict Peters is an African billionaire businessman with extensive assets in the oil and gas and mining industries. He is the founder and CEO of Aiteo, Africa's largest indigenous oil producer, and Bravura Holdings, a vertically integrated mining company developing platinum, lithium, steel, copper, and gold assets in countries throughout Africa, including Ghana, Democratic Republic of Congo, Zambia, Nigeria, Zimbabwe, Namibia, Mozambique, Cote d'Ivoire, Sierra Leone, Guinea Bissau, Libya, Tanzania, and South Africa. Ventures Africa estimated his net worth in November 2014 at $2.7 billion. Other media have more recently placed the figure at between $3 and $5 billion. Peters is a born again Christian and a prominent financier of the gospel of Jesus Christ.
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