Seplat completes ANOH plant, but pipeline woes remain
Seplat CEO Roger Brown said ANOH was an “important strategic project” for the company. "It will roughly double our gas production, and we are focused on the path to first gas”, he said.
Seplat CEO Roger Brown said ANOH was an “important strategic project” for the company. "It will roughly double our gas production, and we are focused on the path to first gas”, he said.
The company said ANOH had faced challenges in the “security situation, poor weather, and contractor performance”.
The suit was filed on April 6, the newspaper said. Brown is continuing to act as CEO despite having his immigration status revoked, the case complains.
The court based its order on allegations around various actions taken by Brown. He organised a site visit for shareholders, cancelled some landscape and catering contracts and introduced a new job performance rating.
The company said media reports had been “clearly calculated to spread false information”. Seplat will work with the ministry to tackle the allegations, it said.
Seplat Energy saw production drop in 2021 but, with the expectation that a new export route will open in March, expects better things ahead.
London-listed Seplat Energy has announced a deal to acquire ExxonMobil’s Nigerian unit.
Seplat Energy has resolved its dispute with Access Bank over Cardinal Drilling Services by buying four rigs.
The Africa E&P Summit taking place on the 22nd and 23rd September will see Ed Reed engaged in a fireside chat with Seplat’s CEO, Roger Brown.
Seplat Petroleum has ramped up production in the first quarter and has set out plans to rebrand as Seplat Energy.
Seplat Petroleum has raised cash for its ANOH gas plan from a group of primarily Nigerian banks.
Lower oil prices cut into Seplat Petroleum’s revenues for the first nine months of the year, to $388 million down from $494.9mn for the same period of 2019.
Austin Avuru has retired from his position as CEO of Seplat Petroleum, paving the way for Roger Brown, current CFO, to take the top spot.
Seplat fell to a loss in the first half of the year as oil prices roughly halved, from $65.16 per barrel in the first half of 2019 to $35.94.