Seplat Energy Moves Forward with Acquisition of Mobil Producing Nigeria, Secures Regulatory Approval

In a major development for Nigeria’s energy sector, Seplat Energy Plc has received the green light from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to finalize its acquisition of Mobil Producing Nigeria Unlimited (MPNU). This approval, granted by President Bola Ahmed Tinubu, paves the way for Seplat Energy to expand its influence and operational scope within Nigeria’s oil and gas industry.

As a dual-listed entity on both the Nigerian Exchange and the London Stock Exchange, Seplat Energy expressed appreciation for the endorsement of its acquisition plans, acknowledging the role of President Tinubu and regulatory bodies in making the transaction possible. The company’s leadership emphasized that this move aligns with its growth strategy, enabling Seplat to further contribute to Nigeria’s energy landscape and economic development.

In a statement, Seplat Energy noted, “Seplat Energy sincerely thanks His Excellency, President Bola Ahmed Tinubu GCFR, for granting this approval, and appreciates the support and diligence of the various Ministries and regulators for all the work on this Transaction.”

The acquisition of MPNU’s entire issued share capital represents a strategic leap for Seplat, boosting its capacity to meet the nation’s energy demands. Seplat has assured stakeholders that further updates on the transaction will be disclosed in line with regulatory requirements.