Seplat Energy Targets $1bn Dividend Payout as Production Goal Hits 200,000 Barrels Per Day

Seplat Energy has set an ambitious goal to reward its shareholders with a $1 billion dividend payout within the next four to five years, signaling strong confidence in its growth trajectory after a major expansion phase. The Nigerian energy company says the plan reflects its long-term commitment to value creation despite ongoing challenges in the global oil and gas sector.

The company also revealed plans to ramp up production significantly, targeting 200,000 barrels per day on an equity basis and up to 500,000 barrels per day in joint venture output. According to Chairman Udoma Udo Udoma, these targets are bold but achievable, especially following the successful acquisition and integration of Mobil Producing Nigeria Unlimited (MPNU) assets.

Udoma highlighted that the completion of the MPNU acquisition marked a major milestone for Seplat, especially considering earlier delays and market skepticism. He explained that the integration process has now been largely completed, allowing the company to streamline operations, cut costs, and consolidate its headquarters to improve efficiency and profitability.

Chief Executive Officer Roger Brown said the transformation has reshaped Seplat into a stronger and more resilient energy player. He noted that the “One Seplat” structure has unified both onshore and offshore operations, strengthening performance and positioning the company to better withstand fluctuations in global oil prices while maintaining steady profitability.

Brown also pointed to growing investor confidence, noting that Seplat’s share price recently crossed the N10,000 mark on the Nigerian Exchange for the first time. He added that beyond shareholder returns, the company remains focused on sustained investment in host communities and building a future-ready energy business capable of long-term competitiveness.

source: The Guardian