Seplat Energy Chairman speaks to 2024 performance
The Chairman of Seplat Energy, Udoma Udo Udoma says the board and shareholders of the oil firm showed satisfaction at the 2024 performance following the acquisition of Mobil Producing Nigeria Unlimited which more than doubled its production and increased reserves. In a chat with CNBC Africa on the sidelines of Seplat Energy's Annual General Meeting, he notes that 11 million man-hours was recorded with no record of loss in time.
Thu, 15 May 2025 16:23:28 GMT
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AI Generated Summary
- Seplat Energy's acquisition of Mobil Producing Nigeria Unlimited doubled production and increased reserves, exceeding expectations.
- The company recorded 11 million man-hours without any lost time due to injury, highlighting their commitment to safety.
- The board and shareholders expressed satisfaction with the company's financial performance, with revenues exceeding $1.1 billion and successful completion of key acquisitions.
Seplat Energy, a leading Nigerian oil firm, has had a remarkable year in 2024, according to the Chairman, Udoma Udo Udoma. The company's acquisition of Mobil Producing Nigeria Unlimited significantly boosted production, increased reserves, and exceeded expectations. Speaking at Seplat Energy's Annual General Meeting, Udoma Udo Udoma highlighted the board and shareholders' satisfaction with the outstanding performance. One notable achievement was the company's record of 11 million man-hours without any lost time due to injury, emphasizing Seplat Energy's commitment to safety. Udoma Udo Udoma emphasized the importance of safe operations, stating that the company not only performed well but also prioritized safety. The board expressed their happiness with the company's financial results, with revenues surpassing $1.1 billion. Additionally, shareholders were pleased with the dividends received. A significant highlight of the year was the successful completion of the Mobil Producing Nigeria Unlimited acquisition. These achievements contributed to a positive outcome that pleased both the board and shareholders.
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