Financial Energy Review
Seplat Energy Plc, foremost indigenous energy company, says it is actively pursuing a range of initiatives to decarbonise its operations and support a sustainable energy transition as part of its climate commitments and operational excellence strides.
The company’s key measures in these regard include: ending routine gas flaring; investments in gas infrastructure; exploring renewable energy opportunities to further offset emissions; driving facility solarization; monitoring and reducing emissions; progressing its afforestation programme (called Tree4Life initiative) to further offset emissions; advancing on its carbon credit initiative; and its Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG) commitments.
Speaking at the 2024 International Engineeting Conference, Exhibition & Annual General Meeting organised by the Nigerian Society of Engineers (NSE), Mr. Ayodele Olatunde, Managing Director Seplat West Ltd, who represented Mr. Roger Brown, CEO Seplat Energy, said Seplat Energy is committed to protecting and safeguarding the land, water, and ecosystems around our operations whilst minimizing disruptions to wildlife populations.
He spoke in a panel session dubbed: Sustainable Engineering Solutions to Food Security & Climate Change. According to him, a key focus for Seplat Energy has been an aggressive programme to eliminate gas flares by 2025, which is a significant part of the company’s commitment to achieving net zero by 2050 (if not before) – well ahead of Nigeria’s regulatory target of 2060.
In the area of gas infrastructure, Olatunde said Seplat Energy is investing heavily in gas processing facilities in Nigeria, adding that beyond gas management, the company is exploring renewable energy opportunities to further offset emissions; and the New Energy business has been tasked with developing power and renewable energy, aligning the overall business strategy.
He added: “Seplat Energy has initiated afforestation programmes to further offset emissions, which is called the Tree 4 Life initiative. Afforestation is essential for promoting biodiversity conservation and increasing annual carbon sequestration. It is a simple and very effective solution, helping to create a healthier, more sustainable environment for generations to come.
“In April this year, the Seplat Energy JV and the Edo State Government signed an agreement that will see the state government allocate 6,000 hectares of land from its protected forest. Seplat Energy, currently, has completed the planting of 12,000 trees on the first tranche of 1,000 Hectares (phase 1A). Additionally, the second tranche of 1,000 Hectares (Phase 1B) has also been allocated. This phase is mapped to accommodate another 18,000 trees, leading up to 30,000 trees.”
Seplat Energy, he added, is finalizing its water and waste management strategy to adhere to industry-leading standards and address potential environmental, social, and economic water risks.
“Our Environmental Management System (EMS) follows the recommendations of ISO 14001 and covers all operations within Seplat Energy. These policies and procedures are applicable across all assets operated by Seplat Energy,” he assured.
