Seplat Energy Targets Expansion, Approves 2025 Dividend Amid Record Production Surge
Seplat Energy Plc has entered a bold new phase of expansion, combining strong financial performance with an aggressive growth strategy that signals long-term confidence in Nigeria’s energy sector. The company made the announcement at its 13th Annual General Meeting (AGM), held virtually from Lagos on 20 May 2026, where shareholders approved its 2025 audited financial statements and a final dividend of 8.3 US cents per share.
With the latest payout, Seplat’s total dividend for the 2025 financial year rises to 25.0 US cents per share, reinforcing its reputation as one of the most consistent value-returning energy companies in the region. Chairman Senator Udoma Udo Udoma emphasized that the board remains focused on delivering shareholder value, noting a long-term target of distributing up to $1 billion in dividends over the next four to five years.
The AGM also highlighted the company’s transformation following the integration of Mobil Producing Nigeria Unlimited and its offshore assets. This strategic move has reshaped Seplat from a primarily onshore operator into a more balanced energy powerhouse with 11 blocks—seven onshore and four offshore—and 48 producing fields, significantly strengthening its production capacity.
Operational performance reflected this shift dramatically, with average production soaring by 148% to 131,506 barrels of oil equivalent per day (boepd), compared to 52,947 boepd in the previous year. Chief Executive Officer Roger Brown described the growth as disciplined and sustainable, stressing that future expansion will be driven by strong cash flow generation rather than unchecked scaling.
Looking ahead, Seplat Energy has outlined an ambitious five-year plan that includes up to $3 billion in capital investment aimed at increasing production to about 200,000 boepd by 2030. If achieved, this expansion could generate between $5 billion and $6 billion in post-tax operating cash flow, further strengthening investor returns and financial stability.
Chief Operating Officer Samson Ezugworie reiterated that safety and operational integrity remain central to the company’s strategy, noting that the firm has recorded zero fatalities and zero lost-time injuries since the asset integration. Investors at the AGM expressed strong confidence in the company’s direction, praising its governance structure, dividend consistency, and recent board appointments, including prominent business leader Tony Elumelu.
Overall, Seplat’s latest results and outlook signal a company firmly in growth mode, balancing aggressive expansion with disciplined financial management—positioning it as a key player in Nigeria’s evolving energy landscape.
source: Punch