Seplat Energy COO lauds divestments in Nigeria’s energy sector

Lagos -- The Chief Operating Officer, COO, of Seplat Energy Plc, Mr. Samson Ezugworie, says the divestment story in Nigeria’s petroleum upstream sector has been a successful case in terms of value creation, realisation, and retention for the economy.

Ezugworie stated this at the Nigerian Content Development and Monitoring Board, NCDMB, headquarters in Yenagoa, Bayelsa State, during a panel discussion at the 12th Practical Nigerian Content Forum, themed ‘Deepening Nigerian Content Amidst Divestments, Domestication and Decarbonisation’. The panel discussion centered on the topic ‘Upstream Divestments: Outlining the Pathway to Success’.

According to the Seplat Energy COO, whilst the international oil companies, IOCs, put their focus on deep water activities, courtesy of their divestment programmes, the indigenous oil companies should be supported to grow onshore shallow water assets.

He explained that Seplat Energy has been part of the divestment journey in the petroleum upstream sector of Nigeria, and remains committed to driving excellence and advancing the fortunes of the Nigerian entity whilst impacting more lives and promoting national prosperity. Seplat Energy started this drive in 2009 leading to the acquisition of the Western Asset blocks in 2010, and today, Seplat Energy’s operations cover seven onshore blocks, he said.

Ezugworie attributed the successes recorded by Seplat Energy and other indigenous players to the potency of the local content advocacy and urged Nigerians to be proud of the advancements and achievements thus far.

ORITSEGBUBEMI OMATSEYIN