KEY POINTS
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Seplat oil well rehabilitation added tens of thousands of barrels to daily production.
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The company expects stronger revenue as more restored wells come online.
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Gas projects and reduced flaring signal Seplat’s long-term growth strategy.
Seplat Energy Plc has reinstated production from a group of deteriorating wells, substantially enhancing its output as Nigeria endeavors to increase oil supply. The company reported the rehabilitation of 33 wells, with 26 already returning to operation. The operation has produced approximately 33,000 barrels of crude daily for the company’s totals. Chief Operating Officer Samson Ezugworie revealed the advancements at the 43rd convention of the Nigerian Association of Petroleum Explorationists in Lagos. He stated that the program aligns with wider national initiatives to restore production and mitigate the supply deficit that has burdened public finances.
Seplat oil well rehabilitation boosts output
Ezugworie characterized the performance as evidence that focused fieldwork can yield benefits without the substantial expenditures typically linked to new initiatives. He stated that the corporation regards the program as an effective means to assist the industry in achieving governmental production objectives. He also highlighted the country’s significant energy access disparity. Over 70 million Nigerians lack access to power. Approximately 170 million individuals depend on firewood or charcoal as their cooking fuel. He cautioned that increasing population figures, projected to reach 400 million by mid-century, will exacerbate the strain on power and fuel infrastructure that are already overstressed.
He contended that the expansion of oil and gas production continues to be integral to economic progress. The sector, he stated, sustains employment, energizes industry, and underpins money that governments depend on for developmental funding. Seplat is progressing with gas projects that the business regards as fundamental to its long-term strategy.
New gains from Seplat oil well rehabilitation
According to billionaire Africa, Ezugworie stated that Seplat is on course to eliminate routine flaring as part of its initiative to reduce emissions. Gas that would have been combusted is being captured for commercial utilization. He characterized the transition as beneficial for the company, adjacent communities, and the ecosystem. Seplat, established in 2009 by Austin Avuru and Ambrosie Orjiako, has evolved into the largest publicly traded energy firm in the country, with operations primarily located in the Niger Delta. Avuru possesses 8.5 percent of the company, equating to over 50 million shares, positioning him as one of the foremost private investors in Nigeria’s energy sector.
For the nine months concluding on September 30, 2025, the company recorded sales of $2.18 billion, an increase from $715 million during the corresponding period the previous year. Profit after tax increased to $95.1 million from $35.3 million. The corporation has intensified its expansion initiatives in recent months following the acquisition of Mobil assets. Seplat announced its intention to invest up to $3 billion to enhance production and expand energy accessibility nationwide.
