SEPLAT is an independent oil and gas exploration and production company incorporated and operating in Nigeria with a strategic focus on Nigeria. The company was founded in 2009 by Shebah Petroleum Development Company Limited and Platform Petroleum (Joint Ventures) Limited for the purpose of investing in Nigerian oil and gas opportunities. Maurel & Prom, a French independent oil company, subsequently acquired a 45 per cent equity interest in SEPLAT; this interest was later spun-off to form Maurel & Prom Nigeria S.A (now Maurel & Prom International)
In July 2010, it acquired a 45 per cent participating interest in three producing assets (OMLs 4, 38 and 41) and was appointed operator of these portfolio of three on-shore producing oil and gas leases located in the prolific western Niger Delta basin of Edo and Delta states. The 45% participating interest in these OMLs were acquired from SPDC, Total (E&P) Nigeria and NAOC. At the beginning, SEPLAT was in JV partnership with NNPC (Nigerian National Petroleum Co-operation) until NNPC transferred its 55% interest to NPDC (Nigeria Petroleum Development Company). SEPLAT is the operator of these assets in the NPDC/SEPLAT Joint Venture.
SEPLAT has become a leading indigenous oil and gas operator in Nigeria. The company has increased its production and reserves year-on-year and has grown revenues and net profit in each year since it commenced operations. The company’s production has maintained a remarkable growth trajectory, rising from a gross operated oil production of 14,000 barrels per day at inception to its current daily crude oil production of around 60,000 barrels per day. The OMLs have a combined proven and probable reserve in excess of 500 million barrels of liquid hydrocarbon and gas reserves in excess of 1.6TCF. These provide a platform for significant potential growth.
SEPLAT has built strong relationships with its Key local communities, which has promoted trust and confidence amongst its stakeholders and ultimately resulting in a stable operating environment. In December 2010, the Company entered into a Global Memorandum of Understanding with the communities within OMLs 4, 38 and 41 which host its operations and has established a trust fund for community projects. The company does not practice tokenism but actively seeks to interact and engage people in the communities. To continue to nurture these relationships, Seplat is fully focused on proactive engagement of her communities to implement community projects based on sustainable development principles. These initiatives which seek to promote local capacity building, support host community participation and enhance quality of life in local communities including employment or persons from these local communities; provision of healthcare, execution of education and community development programmes; skills training; educational scholarships and grants; and building of local infrastructure development.
Additionally, Seplat has established operation base office within the host communities, as a clear reflection of the depth of its commitment and level of the trust based relationship with the communities and partners.
SEPLAT has a diverse and experienced board of directors which provide on-going counsel and oversight and highly skilled senior executive and operational management with proven track record. These professionals run the company with sound ethics and strict corporate governance practices. The company has since inception met all projections and has in its current employment over 300 personnel with offices in Lagos and at its base of operations.
SEPLAT’s core values include Safety, Environment, Partnership, Leadership, Accountability and Teamwork. These values guides the company’s strategic business goals and operations.