Share
Mobil asset acquisition: Seplat to re-engage Nigerian government
The immediate past Chairman of Seplat Energy, A.B.C Orjiako, says the company will engage with the Nigerian government and its partners over the decision to decline consent on the acquisition of Mobil Oil Producing Unlimited assets. Orjiako stresses that there is the need to re-strategise and re-engage to bring the deal to a close.
Fri, 20 May 2022 14:25:14 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Seplat Energy to re-engage with the Nigerian government and partners to secure Mobil asset acquisition
- Dr. A.B.C. Orjiako reflects on Seplat Energy's growth and success under his leadership
- Seplat Energy emphasizes commitment to ESG principles, sustainability, and community development
Seplat Energy, one of the leading players in the Nigerian oil and gas industry, is set to re-engage with the Nigerian government and its partners following the decision to decline consent on the acquisition of Mobil Oil Producing Unlimited assets. The immediate past Chairman of Seplat Energy, Dr. A.B.C. Orjiako, emphasized the importance of re-strategizing and re-engaging to bring the deal to a successful conclusion. Reflecting on his tenure as the pioneer chairman of Seplat Energy, Dr. Orjiako expressed his satisfaction with the company's growth and success over the past 13 years. He highlighted the transition of Seplat Energy from a shareholder-owned entity to a publicly listed company on the Nigerian and London Stock Exchanges, attracting international investors and fostering indigenous participation in the industry. Dr. Orjiako commended the appointment of Mr. Basil Omey as the new Chairman, fulfilling the promise of having an independent non-executive chairman. Under Dr. Orjiako's leadership, Seplat Energy prioritized long-term strategic vision, acquiring assets from international oil companies to enhance indigenous participation and foster community engagement. This approach not only generated value for stakeholders but also promoted job creation and strengthened relationships within host communities. The recent setback in the Mobil acquisition deal was acknowledged by Dr. Orjiako, who viewed it as an opportunity for further engagement with the government, NNPC, regulatory bodies, and other stakeholders. Emphasizing the significance of the deal for Seplat Energy and Nigeria as a whole, Dr. Orjiako underscored the potential for broadening ownership of assets among Nigerians and expanding the company's impact on the national economy. He reiterated Seplat Energy's commitment to generating revenue, creating prosperity, and promoting sustainable energy solutions. Dr. Orjiako highlighted the company's alignment with environmental, social, and governance (ESG) principles, including efforts to enhance environmental protection, achieve carbon neutrality, and promote social welfare. Initiatives such as the 'Tree for Life' project, aimed at planting five million trees over five years, exemplify Seplat Energy's dedication to environmental stewardship and community development. Looking ahead, Dr. A.B.C. Orjiako expressed his focus on sustainability and environmental change mitigation in his future endeavors, while supporting Seplat Energy's continued growth and success under new leadership. With a strong foundation in ESG practices and a strategic outlook on energy transition, Seplat Energy stands poised to navigate evolving global trends in the oil and gas industry.
SIGN UP FOR OUR NEWSLETTER
DAILY UPDATE
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.