Seplat Energy Plc has formally taken over Mobil Producing Nigeria Unlimited’s assets and liabilities in Akwa Ibom State, following a $1.28 billion acquisition deal. The company’s Chairman, Senator Udo Udoma, led a delegation to Government House in Uyo to inform Governor Umo Eno of the development.
During the visit, Udoma announced that Seplat Energy has changed its corporate identity to Seplat Energy Producing Nigeria Unlimited (SEPNU). He expressed the company’s commitment to partnering with the Akwa Ibom Government for sustainable development in the state.
“We are honored to engage with the Akwa Ibom Government and present our vision for a collaborative future,” Udoma said. “Our commitment is not only to the growth of our operations but also to the well-being and prosperity of the communities where we operate.”
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Governor Eno welcomed the Seplat team and assured the state’s unwavering support for the company’s operations. He hoped that the collaboration between his administration and SEPNU would bring tangible benefits to the people, boost the local economy, and promote sustainable development.
The acquisition deal is part of Seplat Energy’s Nigeria-focused growth strategy, positioning the company to participate in future asset divestments by international oil companies. Seplat Energy is also a leading supplier of gas to the domestic power generation market.
This development comes after Seplat Energy completed the acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil, marking a significant milestone in the company’s history.