Last checked at 1 Aug 2022 08:00
Seplat Energy Plc ("Seplat Energy" or "the Company")
Commissioning of Amukpe-Escravos Pipeline
Lagos and London, 1 August 2022: Seplat Energy Plc, a leading Nigerian energy company listed on the Nigerian Exchange and the London Stock Exchange, is pleased to announce that it has begun commercial injection of crude oil through the new Amukpe-Escravos Pipeline.
The 67km mostly underground pipeline is expected to provide a more reliable and secure export route for liquids from Seplat Energy's major assets OML 4, 38 and 41, connecting them with the Chevron-operated Escravos Terminal. It has a capacity of 160,000 bbl/day, of which the Seplat Energy / NPDC joint venture is entitled to inject 35,000 bbl/day. Dewatering was completed on Friday 29 July and the Site Acceptance Test is now underway with commercial volumes.
Until now, the Company has relied on the Trans Forcados System, which has experienced numerous disruptions in recent years due to pipeline maintenance and vandalism, which have impacted the Company's revenues.
Roger Brown, Chief Executive Officer of Seplat Energy, said:
"The commercial launch of the Amukpe-Escravos Pipeline is a significant event for Seplat Energy and for Nigeria, offering a more secure and reliable export route that will assure higher revenues and profitability for Seplat Energy, enabling us to make a larger contribution to Nigeria's economy.
We commend the work that has made this possible and appreciate the efforts of our partners and all contractors involved to create this more reliable and secure export route for Nigeria's oil."
Enquiries:
Emeka Onwuka, Chief Financial Officer | +234 1 277 0400 |
Edith Onwuchekwa, Legal Director/Company Secretary | |
Carl Franklin, Head of Investor Relations | |
Ayeesha Aliyu, Investor Relations | |
Chioma Nwachuku, Director External Affairs & Sustainability | |
Ben Brewerton / Christopher Laing | +44 203 727 1000 seplatenergy@fticonsulting.com |
Tom Reid / Luke Spells | +44 207 986 4000 |
Chris Sim / Charles Craven / Jarrett Silver | +44 207 597 4000 |
Notes to editors
Seplat Energy Plc is Nigeria's leading indigenous energy company. It is listed on the Nigerian Exchange Limited (NGX: SEPLAT) and the Main Market of the London Stock Exchange (LSE: SEPL).
Seplat Energy is pursuing a Nigeria-focused growth strategy through participation in asset divestments by international oil companies, farm-in opportunities, and future licensing rounds. The Company is a leading supplier of gas to the domestic power generation market. For further information please refer to the Company website, http://seplatenergy.com/
Responsibility for publication
This announcement has been authorised for publication on behalf of Seplat Energy by Emeka Onwuka, Chief Financial Officer, Seplat Energy Plc.
Signed:
Emeka Onwuka
Chief Financial Officer