Seplat; Transforming Lives Through Energy
Seplat Energy PLC, formerly Seplat Petroleum Development Company Plc, is a Nigeria-based company engaged in oil and gas exploration and production.
Its segment is the exploration, development, and production of oil and gas-related projects located in Nigeria.
Its portfolio consists of approximately seven oil and gas blocks in the prolific Niger Delta region of Nigeria, including oil mining lease (OML) 4, 38, and 41, OPL 283 (Pillar), OML 53, OML 55, OML 40, and Ubima. It has a working interest in OMLs 4, 38, and 41, which are located in Edo and Delta States onshore Nigeria.
Its OML OML 55 covers an area of approximately 840 kilometers (km) and is located in the offshore areas in the southeastern Niger Delta.
It has a non-operated working interest in the Umuseti/Igbuku Marginal Field Area of OML 56. Its OML 40 license lies onshore within the Niger Delta, approximately 65 km northwest of Warri, and covers an area of 498 (km).
It’s OML 53, which covers an area of approximately 1,585 km.
Seplat is Nigeria’s international energy company that is leading Nigeria’s energy transition towards cleaner, more reliable energy that is accessible to all.
Through partnership and commitment, the company has supported Nigeria’s economy and created value for all our stakeholders.
Its operations cut across eight blocks while it has oil and gas assets in the prolific Niger Delta, close to export terminals and major demand centers
Seplat Energy has a significant track record of maximizing value from upstream oil and gas assets while it provides 30% of processed gas used for electricity in Nigeria, with new capacity coming onstream in 2022.
There is no doubt that Seplat Energy’s performance in the use of energy is part of the indices for defining operational excellence.
The company encourages ‘thinking sustainably’ in the context of energy consumption across the supply chain as they use mainly electrical energy for most of our operations.
Its occasional use of gas as fuel instead of diesel reduces hydrocarbon emissions. Sepalt goal is to continuously reduce GHG emissions in production processes by increasing energy efficiency.
The company is committed to achieving sustainable long-term growth by providing the optimal energy mix for Nigeria; being a national energy champion and partner of choice to support Nigeria’s energy transition; driving social and economic development through direct and indirect efforts; preparing for a lower-carbon world requiring different products and skills, and achieve significant reductions in corporate emission.
In addition to its direct business investments, and its contribution to local and national economies through the payment of taxes and levies to the various government tiers, Seplat funds a significant amount of sustainable community development initiatives.
These initiatives aim to create long-lasting benefits that contribute to improving human development indexes, thereby raising living standards in its host communities. These social investment activities align with the UN’s SDGs.
Working with the local communities’ approved leaders to create shared value for communities, Seplat channels investment to areas that align local priorities to its business objectives whilst addressing the people’s broader development objectives.
In 2020, and despite the Covid-19 pandemic, Seplat continued these efforts, making significant investments in strategic community development projects and programs in such core areas as community infrastructure, education, health, and water schemes.
Seplat social development approach aligns with the UN’s SDG 6 (access to clean water and sanitation), SDG 4 (quality education), SDG 3 (good health and wellbeing), and SDG 2 (zero hunger), amongst others, SDG 8 (Decent Work and Economic Growth) and SDG 1 (No Poverty)
Seplat has executed several community projects over the years. In 2018 it completed:
Construction of new water distribution lines to replace the old lines at Oben Community, ensuring continued access to clean water. In addition, it constructed a water line extension to new areas of the Ugbokodo Community (Aladja, Ekokota, and Amanwanren), and developed a water supply and overhead tank for Police Area Command in Sapele Okpe Community.
The rehabilitation of the solar-powered water project at Okuoghara quarter in Ugborhen Community was carried out. Seplat recognizes that access to clean water is a fundamental right and these projects have helped to eradicate water-borne diseases such as cholera.
Seplat completed the construction of the 5.5km Boboroku-Orogho road (Boboroku end) and commenced the construction of the 5km Orogho-Boboroku road (Orogho end).
In addition, the company has started the construction of Oben-Iguelaba drainage and road expansion, construction of culvert/slope protection at Boboroku Community, and completed the Oben, Iguelaba, and Okirighwre field roads.
Infrastructure improvements have given our local communities better access to the market, thereby reducing commuting time, increasing community links, and decreasing wear and tear on vehicles.
Seplat also constructed market stalls for several communities where they operate. This included 40 market stalls for the Obozogbe Nugu community in Edo State; 40 market stalls for Orodje market – 20 at Sapele Okpe Community and 20 at the Ugberikoko waterfront.
To further empower local communities and support the local economy, Seplat also carried out maintenance of key market facilities at Oben Community, including the maintenance of market stalls, water taps, and the Town Hall.
On Education, aside from awarding scholarships to 90 undergraduate students from the Sapele Okpe Community, Seplat also furnished several community buildings during the year, including a three-classroom building/office at Obozogbe Nugu Primary School and a classroom at Okunigho Secondary School, which they connected to the national electricity grid.
In addition, the company renovated four buildings designated for the National Open University of Nigeria in Sapele Okpe, to encourage greater access to education for the local community.
Seplat undertook several electrical installations for local communities, including the installation of a 500KVA transformer at Okuovwori Village, Amukpe, and a 100KVA generator set at the National Open University of Nigeria.
In 2017, Seplat rehabilitated and remodeled the Oben community’s water distribution pipeline network by installing solar power systems to replace the previously used diesel engine system.
This improved both the functionality and sustainability of the network. The company understands that access to clean water is a fundamental right and these improvements ensure that the community has access to an adequate supply of safe freshwater.
Seplat rehabilitated and remodeled the Oben community’s water distribution pipeline network by installing solar power systems to replace the previously used diesel engine system. This improved both the functionality and sustainability of the network. We understand that access to clean water is a fundamental right and these improvements ensure that the community has access to an adequate supply of safe freshwater.
On-road construction, the company has completed the construction of a 3.76km road for the Ugborhen-Ikeresan communities and a 1.09km road for the Okuovo-1 community. In addition, Seplat has now reached an advanced stage in the development of the 5.5km Boboroku-Orogho field road.
This improved infrastructure has given Seplat host communities greater access to the market, thereby reducing commuting time, decreasing the wear and tear on vehicles, and increasing opportunities for integration between communities.
Seplat also constructed 40 market stalls for the Obozogbe Nugu community in the local government area of Orhionmwon.
Medical equipment was procured for the Ugbukurusu Community Health Centre while maintenance work was carried out on the Ugbevwe Community Health Centre.
The company also constructed an examination hall at Ugbevwe Secondary School, provided laboratory equipment to the Okunigho Secondary School, and completed building work on classrooms at Adaka Grammar School and Oben Secondary School.
Seplat constructed an examination hall at Ugbevwe Secondary School, provided laboratory equipment to the Okunigho Secondary School, and completed building work on classrooms at Adaka Grammar School and Oben Secondary School.
Seplat also completed the construction of a civic center in Ugborhen and undertook maintenance work at both the Okirighwre Town Hall and the Ugbevwe Town Hall.
Other projects embarked on by Seplat include the construction of drainage channels and slope protection for the Boboroku community and completed fencing and flooring of the Edition Hall in Orerokpe Town.
Seplat offers a compelling case for investment based upon a multitude of attractive factors, notably:
·Significant growth opportunity by replacing diesel and biomass in a country of 200m, projected to be 450m by 2040
· Leading energy supplier, providing up to 30% of gas used for power, with strong potential to increase
·Strong relationships of trust with government, industry partners, and financial markets positions Seplat Energy as an enabler of change
·Experienced management team and Board
·Low-cost operator, an expert in extracting value from mature, de-risked fields to generate strong cash flows that are then be deployed to investors for the future and pay significant dividends (10c per year)
·Growing gas business provides long-term revenue visibility and higher margin
Adewole Kehinde is the Publisher of Swift Reporters and can be reached via 08166240846 , 08123608662