Roger Brown, CEO Seplat Energy Plc speaking during a panel session themed “International oil companies: An insight into M&A activity on the continent” at the Africa Oil Week (AOW) 2022 held in Cape Town, South Africa on Wednesday.
Seplat Energy Plc, leading Nigerian energy company listed on
the Nigerian Exchange and the London Stock Exchange, says that its energy
transition priorities remain to end flaring, monetise gas, displace diesel and
biomass with cleaner fuel, extend along power value chain and target smaller
scale gas-to-power customers.
Roger Brown, Seplat Energy CEO said this while addressing
global energy players at the Africa Energy Week (AOW) happening in Cape Town,
South Africa.
Brown, whist delivering a Keynote at the Conference main
stage themed: Energy Security in a Consistently Shifting Energy Landscape,
said: “As a leader in this space, our priorities a s far as energy transition
is concerned, is to end flaring, monetise gas, displace diesel and biomass with
cleaner fuel, extend along power value chain and target smaller scale
gas-to-power customers, whilst exploring new opportunities.”
Seplat Energy, he noted, currently produces 300MMscfd, which
is enough to power 1GW per day. The company ANOH and Sapele gas projects have
the capacity to fuel another 2GW by 2024.
“But we need to displace 20GW diesel generation with
utility-scale gas-to-power / renewables. We will develop bottled gas products
to displace biomass with cooking gas; and extend along value chain into power
generation with gas and hybrid model,” the Seplat energy CEO stressed.
According to Brown, providing more affordable and reliable
energy will boost Nigeria’s economy, drive development and create jobs.
He described the Nigerian market as a huge opportunity for
the Company, noting that with a future population projected at 500 million
people by 2050, Nigeria represents a huge investment opportunity across the
entire energy sector.
He said improved domestic infrastructure, Increased export
capability, Increased refining capacity, Increased gas-fired capacity, improved
national grid, metering, billing, payments, renewables, and clean cooking
displacing biomass were clear areas of value for businesses and the Nigerian
people and government.
Citing IEA 2022 Africa Energy Report, ha said the
development of Africa’s energy system offers major opportunities to stimulate
the creation of decent jobs that require wide-ranging skills.
In the Sustainable Africa Scenario, 4 million energy-related
jobs in total are created across the continent in the 2021-30 period, largely
as a result of providing universal access to modern energy to households in
sub- Saharan Africa and the rapid deployment of clean energy technologies,
according to the IEA report.
The Seplat Energy CEO, who also spoke in a Panel Session
dubbed: International oil companies: An
insight into M&A activity on the continent, explained that Seplat Energy is
an indigenous Nigerian operator having good relationships with government and
communities; strong operating and safety record; well-funded balance sheet
through prudent financial management and strong cash flow; internationally
accountable through dual listings and good governance; and commitment to high
Environment Social Governance (ESG) performance.
All of these, he noted, had given Seplat Energy credible
access to international capital markets to fund operations and M&A deals in
line with its strategy.
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