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Seplat completes acquisition of Mobil at $800m

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Seplat

Nigeria's indigenous firm, Seplat Energy Plc, has finally completed its acquisition of Mobil Producing Nigeria Unlimited, MPNU, from ExxonMobil at $800 million after over two years when the first deal was signed. The company disclosed this in a recent statement.

Nigeria's indigenous firm, Seplat Energy Plc, has finally completed its acquisition of Mobil Producing Nigeria Unlimited, MPNU, from ExxonMobil at $800 million after over two years when the first deal was signed. The company disclosed this in a recent statement. According to the oil firm, the acquisition will add an additional 120,000 barrels to the country’s crude oil production. Accordingly, whereas the original deal was for an initial $1.

6 percent participating interest in the Aneman-Kpono field; and approximately 1,000 staff and 500 contractors will transition to the Seplat Group. Reacting to the development, Chairman of Seplat Energy, Udoma Udo Udoma, lauded President Bola Ahmed Tinubu for supporting the acquisition.

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