By Adaobi Rhema Oguejiofor
Seplat Energy, a leading indigenous energy company, has marked its 10th anniversary of dual listing on the Nigerian Exchange Limited (NGX) and the London Stock Exchange.
At the anniversary celebration, the company’s CEO, Roger Brown, revealed that Seplat Energy has returned dividends worth $575 million and invested $1.6 billion in capital expenditure (CAPEX) over the last 10 years.
Brown also disclosed that the company generated $1.7 billion in Free Cash Flow (FCF) and invested over $57 million in community projects, focusing on healthcare, education, and empowerment.
Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, who was present at the event, emphasized the need for innovative solutions to address the challenges facing the petroleum sector.
He encouraged oil and gas operators to explore new ways of raising capital, leveraging the nation’s capital market.
Lokpobiri assured that the government would continue to create an enabling environment and regulatory framework for companies to operate effectively, as prescribed by the Petroleum Industry Act (PIA).
The Group Chairman of NGX Group, Alhaji (Dr) Umaru Kwairanga, praised Seplat Energy’s growth since its inception in 2009 and dual listing in 2014, emerging as a leading player in Nigeria’s energy landscape.
Seplat Energy’s strong cash generation has supported its expansion ambitions, with an aggregate spend of $1.6 billion in CAPEX over the last decade.
The company remains committed to responsible and cleaner energy production, deploying cutting-edge technology to achieve this goal.
