Seplat Energy Targets Production Boost as Yoho Platform Restart Nears Completion

Seplat Energy Plc is preparing for a major production increase in 2026 as it moves closer to restarting its Yoho offshore platform, a key asset expected to return to service by the end of June after extensive maintenance work. The company says the restart will strengthen output across its portfolio and support full-year production guidance.

In its first-quarter report, the Lagos- and London-listed oil producer revealed that average daily working interest production reached about 153,000 barrels of oil equivalent per day in the first 26 days of April. This figure sits comfortably within its annual guidance range of 135,000 to 155,000 boepd, even before any contribution from the Yoho platform resumes operations.

Chief Executive Officer Roger Brown noted that the strong April performance highlights the strength of Seplat’s asset base. He added that the upcoming return of Yoho, alongside the continued ramp-up of the ANOH gas plant, is expected to further enhance output in the coming months. The Yoho platform was shut down in late 2025 for extensive repairs, including replacement of more than 60 kilometres of cabling and hundreds of piping components to improve long-term reliability.

However, the maintenance activities contributed to a slight decline in first-quarter production, which averaged 129,841 boepd—down one percent year-on-year. This also led to higher production costs, which rose to $17.1 per barrel compared to the company’s guidance range. Seplat expects these costs to normalize as production increases and Yoho comes back online.

Beyond Yoho, Seplat is also banking on growth from its ANOH gas plant and other infrastructure upgrades. The facility recorded early output of 17 million standard cubic feet per day in Q1, with expectations of higher volumes once pipeline constraints are resolved. The company also reported strong gains in natural gas liquids production and continued progress on key projects such as the Oso-BRT pipeline expansion and new offshore drilling operations expected to begin in the third quarter.

source: Business day