Progress on Gas and LNG Development
Seplat Energy is close to securing commercial terms for a new gas project. This marks a key step in Nigeria’s efforts to boost domestic gas supply and unlock its LNG potential. At African Energy Week (AEW): Invest in African Energies 2025 in Cape Town, Seplat CEO Roger Brown shared updates on the Yoho field, a stranded asset ideal for LNG. “We operate three gas plants and are a top domestic supplier. We’re nearing a deal for the Yoho field,” Brown said.
Financial Strategy and Market Confidence
Seplat is strengthening its finances with local and international funding. The company issued its third Eurobond this year. Brown highlighted the value of local financiers, who understand Nigeria’s market well. Nigeria’s upstream sector is gaining traction, with five deals approved last year. The government aims for 3 million barrels per day by 2030. These factors make the sector attractive to investors.
Unlocking Onshore Opportunities
Berislav Gaso, Executive Vice President Energy at OMV, sees strong potential in onshore assets. Existing infrastructure and subsurface resources drive this value. Local operators are already succeeding. Aradel Holdings’ CEO Gbite Falade noted their production grew from 2,000 to 15,000 barrels per day at their marginal field. Aradel also built a gas-processing plant and a modular refinery at Ogbele, using a local workforce.
Collaboration Among Indigenous Firms
Energia Limited’s COO, Oladimeji Bashorun, called for indigenous companies to unite. “Pooling funds and sharing risks can maximize our strengths,” he said. This approach could drive further growth for local players in Nigeria’s energy sector.
Technology and Partnerships for Efficiency
Cobie Loper, Senior Vice President at NOV, emphasized early engagement and lifecycle support. “Our toolkit offers diverse development options,” Loper said. These tools help optimize assets and bring new oil technologies to market. Partnerships are key to overcoming bottlenecks and driving innovation.
Managing Risks and Community Ties
Oando Energy Resources is tackling above-ground risks with technology. They use monitoring systems for pipelines and remote fuel stations. Strong community relationships are equally vital. “Technology helps us monitor, but community partnerships ensure we respond effectively,” said Akinbambo Ibidapo-Obe, Oando’s General Manager – Commercial.
Looking Ahead
Seplat’s progress, alongside Nigeria’s improving investment climate, signals a bright future for the energy sector. Collaborative efforts, technological advancements, and community engagement will be critical to unlocking the country’s full potential in gas and LNG development.
Sources: Oriental