Brown made this statement during his address at the Heirs Energies Leadership Forum 2025 in Abuja, where he discussed Nigeria's capacity to enhance oil and gas production, tap into unutilized gas reserves, and promote sustainable development in the energy sector.
He reiterated Seplat Energy’s dedication to improving Nigeria’s energy landscape by boosting oil production and increasing its domestic gas supply capabilities.
“We see tremendous potential in unlocking 14 TCF of untapped gas in our newly acquired assets in Akwa Ibom State and we are aligned with the government’s vision that every barrel of oil and molecule of gas counts,” he stated.
Seplat Energy Aims for 850 Million scf
He mentioned that the company plans to provide 850 million standard cubic feet of gas for both domestic and industrial applications in Nigeria.
“Seplat Energy is committed to supporting the delivery of Nigeria’s energy future by accelerating oil production and delivering on our 850 million scf gas capacity to domestic industry including power, fertilizer production, and LNG,” he explained.
He emphasized that Seplat Energy’s objectives and recent investments are in line with the Nigerian government’s strategy to optimize all available resources to bolster energy security and stimulate economic growth.
“We are aligned with the government’s vision that every barrel of oil and molecule of gas counts. As such, we will continue to invest in safe and efficient operations to ensure long-term energy security and sustainable growth,” the CEO concluded.
He emphasized that Nigeria's energy sector is experiencing a significant transformation, marked by unprecedented levels of divestment.
According to him, these recent investments and divestments are set to create new avenues for growth within the energy sector.
Last year, Seplat Energy, which is publicly traded in both Nigeria and London, acquired Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil for $1.3 billion.
The acquisition primarily encompasses oil and gas operations across various oil fields and export terminals located in Akwa Ibom state.
As a result of this acquisition, Seplat now holds equity in 11 blocks (both onshore and in shallow waters), 48 active oil and gas fields, 5 gas processing facilities, and 3 export terminals.
This acquisition is expected to double Seplat Energy's oil production capacity.
The company has characterized this move as a “game-changer,” enabling them to fully leverage the potential of mature assets through strategic investments and impactful drilling initiatives.
With Nigeria aiming to enhance gas utilization as a transitional fuel, Seplat Energy's investments in oil and gas infrastructure, along with other recent multibillion Naira investments, are anticipated to significantly improve domestic energy supply and support various industries.
The federal government aims to achieve a production level exceeding 2 million barrels per day of crude oil by 2025; however, its output for January was recorded at 1.5 million barrels per day.
This figure falls short by 500,000 barrels per day, but the government has committed to reaching this target within the year, as the 2025 budget is based on an output of 2.06 million barrels per day.