Financial Energy Review
… Milestone Achieved Without Single Recordable Lost Time Incident (LTI)
……by Victor Egbo……
Seplat Energy Plc (“Seplat” or the “Company”), a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and London Stock Exchange, is pleased to announce that the ANOH gas plant installation works reached mechanical completion on 29th December 2023, in line with the revised timetable.
This milestone has been achieved without a single recordable Lost Time Incident (LTI) across 11 million man hours, a testament to the focus of the whole team on safe and secure operations.
The ANOH Gas Processing Company (AGPC), an incorporated joint venture between Seplat Energy and NNPC Gas Infrastructure Company (NGIC) Ltd, is delivering the ANOH gas plant with Phase One processing capacity of 300mmscfd. Upon commencement of operations, the plant will deliver dry gas, condensate, and LPG to customers. It is envisaged that AGPC will sell the gas and LPG domestically, and the condensates to the international market.
The other key steps to first gas, as outlined in the Company’s Interim Results announcement, were the drilling and hook-up of the Upstream wells and completion of essential third-party infrastructure: the OB3 pipeline river crossing and Spur Line connecting OB3 to the gas plant.
Completion of the third well (ASSN-05) was previously announced and the fourth and final well (ASSN-06) planned ahead of first gas has also now been completed by the upstream unit operator, SPDC.
We now look forward to the completion of the necessary plant pre-commissioning activities and essential third-party infrastructure which will enable commissioning of the gas plant and commencement of operations. Our previously communicated guidance for first gas is unchanged.
Roger Brown, Chief Executive Officer of Seplat Energy, said:
“ANOH is an important strategic project for Seplat, it will roughly double our gas production, and we are focused on the path to first gas.
“Once completed, ANOH will provide two income streams for Seplat: wet gas sales from OML 53 to the gas plant and dividends from the joint venture ANOH Gas Processing Company, which will operate the plant.
“ANOH’s gas will further reduce Seplat’s and Nigeria’s carbon intensity and increase energy supplied to the Nigerian domestic market.”
