Upstream

It is becoming crystal clear that steps taken so far by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) since its establishment in October last year, have in many ways added and still adding significant value to the nation’s oil and gas industry and the economy The last ten months has truly been a beehive of activities and serious regulatory business ...

……we have not received letter of rescind  of consent from the Presidency…… Mr. Kazeem Abiodun Raimi, a Non-Executive Director of Seplat Energy has sold 16,139 ordinary shares worth N25 million registered in his name. A cursory look at the transaction statement obtained from the Nigerian Exchange Limited (NGX) showed that Raimi sold off the 16,139 at a price of N1,570 per share, ...

There are strong indications that President Mohammadu Buhari may have reverse his decision earlier this week over the acquisition of ExxonMobil asset by Seplat. The President’s consent on the acquisition since Monday this week had received knocks and condemnation by industry experts and more strongly from the Nigeria Upstream Petroleum Regulatory Commission (NUPRC). Financial Energy Review had reported Wednesday afternoon ...

……..NUPRC Courageous by It’s Public Stance…….. ..by Ben Ndubuwa… Petroleum Industry experts have condemned the recent consent given by President Mohammadu Buhari to Seplat in the controversial acquisition of the ExxonMobil Asset. According to a recent statement from Seplat, the company had received a letter from the Honourable Minister of State for Petroleum Resources (“HMSPR”) Chief Timpre Sylva notifying Seplat ...

Shell Companies in Nigeria (SCiN) announced a review of its Nigerian onshore oil investments which would focus on two ambitious and strategic areas. The areas include deep-water exploration and production in the Gulf of Guinea, where the renewal of the OML 118 licence for 20 years has opened up further opportunities; and expansion of the gas supply and distribution network ...

The federal government has finally approved the acquisition of Mobil Producing Nigeria Unlimited by Seplat. The approval which has been a long wait for both Seplat and ExxonMobil will now make Seplat stand out as one of the largest independent energy companies in Nigeria.  According to the statement from Seplat, the company received a letter from the Honourable Minister of ...

Nigeria’s crude oil production capacity has been further impaired with a shut in of 170,000 barrels per day at the Shell operated Floating Production Storage and Offloading, Sea Eagle, due to water leakage into the facility. Recall that the FPSO which is offshore Warri, Delta State has been reportedly taking in water since July, although the company said water inflow ...

TotalEnergies in Nigeria has commence production from Ikike Field. The oil field is OML99. Totalenergies is the operator having 40 percent stake in partnership with the Nigerian National Petroleum Company Limited NNPCL, 60 percent. The company has announced that production has started from the Ikike field, in Nigeria. Located 20 kilometers off the coast, at a depth of about 20 ...

Operators of the new marginal oil fields are expected to earn significant revenue from the fields. Proposed crude oil exploration from 57 marginal oil fields is expected to boost Nigeria’s oil production by at least 8.835 million barrels monthly. With the newly issued marginal field licences, the country’s oil production is expected to grow by 285, 000 barrels per day, ...

In this era of divestments by the International Oil companies (IOCs) from Nigeria, indigenous energy companies with the right competences and wherewithal are natural partners to government in the quest to harness oil and gas assets, the Chief Executive Officer, Seplat Energy Plc, Mr. Roger Brown, has said. The Seplat Energy CEO made this assertion at the Nigerian Association of ...