Seplat Energy Plc, one of Nigeria’s leading independent oil and gas companies, has successfully rehabilitated 33 oil wells, resulting in an additional 33,000 barrels of crude oil production per day. This achievement is part of Seplat’s ongoing efforts to boost national production levels and help address Nigeria’s oil revenue shortfall, according to a statement made by the company’s Chief Operating Officer (COO), Samson Ezugworie.
Rehabilitation Efforts and Increased Production
Speaking at the 43rd Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference & Exhibition in Lagos, Ezugworie outlined the company’s progress in revitalizing dormant or underperforming oil wells. Of the 33 wells rehabilitated, 26 were deemed successful and have since contributed an additional 33,000 barrels per day (bpd) to Seplat’s overall output.
“This is a step in the right direction to closing the current gap in production that could leave Nigeria with a shortfall in its revenues,” Ezugworie said. He emphasized that while the well rehabilitation process is not costly for Seplat, it is crucial for ensuring the company’s ability to meet the Nigerian government’s production targets. Seplat plans to continue rehabilitating wells as part of its broader strategy to support Nigeria’s oil and gas sector.
Addressing Energy Poverty and Nigeria’s Future Growth
Ezugworie also took the opportunity to address the ongoing issue of energy poverty in Nigeria, noting that over 70 million Nigerians currently lack access to electricity. Furthermore, more than 170 million people still rely on biomass for cooking, a practice that has negative environmental and health implications.
With Nigeria’s population projected to exceed 237 million by 2025 and 400 million by 2050, Ezugworie stressed the urgency of addressing the country’s energy needs. "We must build a prosperous Nigeria, and we can only do that with affordable and reliable energy that is accessible to all,” he said.
Boosting Oil and Gas Production to Drive Economic Growth
For Nigeria to meet its energy demands and economic goals, Ezugworie argued, the country must increase its oil and gas production. "We must not only increase oil production to boost national revenues and reduce the current shortfall, but also scale up gas and natural gas liquids (NGL) production," he explained. This, he said, would help drive economic growth, reduce dependence on imported fuels, and improve domestic energy access.
The Seplat COO also highlighted Nigeria’s vast natural gas reserves as a critical resource that must be leveraged to provide cleaner energy alternatives, such as displacing polluting generators and offering clean cooking solutions to millions of households.
Local Operators and the Shift in Nigeria’s Oil and Gas Landscape
Ezugworie discussed the ongoing shift in Nigeria’s oil and gas sector, as assets once controlled by well-funded international giants are increasingly being handed over to local operators. He noted that while local companies like Seplat may lack the global reach of multinational corporations, they bring essential knowledge, enthusiasm, and expertise to the table.
“This shift creates new capital dynamics in our need to raise international finance, while at the same time increasing our focus on managing risks and protecting our natural environment,” he said. However, the COO emphasized that these changes also present significant opportunities for local players to build resilient partnerships with industry stakeholders and host communities, ultimately fostering an energy industry that is led and managed by Nigerians for Nigerians.
Seplat’s Gas Initiatives and Environmental Commitment
Seplat Energy’s focus on expanding its gas business is also a key part of its broader strategy to support Nigeria’s energy infrastructure. The company is on track to deliver its first gas from the joint venture ANOH Gas Processing Plant, and it has already begun shipping liquefied petroleum gas (LPG) from the upgraded Sapele Gas Plant.
Additionally, Seplat has made strides toward eliminating routine flaring at its onshore operations, a move that will reduce emissions and allow the company to capture and monetize associated gas. “These projects are not just about energy; they are about transforming lives and powering Nigeria’s development,” Ezugworie said.
The Broader Energy Transition and Local Industry Challenges
As the global energy landscape shifts toward more sustainable practices, Ezugworie acknowledged the challenges that come with transitioning from international oil majors to local operators. While local companies face capital constraints, they are also better positioned to leverage local expertise and innovation to shape the future of Nigeria’s energy sector.
Seplat Energy, with its strategic focus on leadership, partnership, and stewardship, remains committed to advancing the Nigerian oil and gas industry through these principles. The company believes that by prioritizing these values, it can contribute to Nigeria’s energy security and sustainable development, aligning with both national and global energy goals.
Conclusion
Seplat Energy’s successful rehabilitation of oil wells and continued investment in gas infrastructure underscores the company’s role in driving Nigeria’s energy future. As the country faces pressing energy challenges, Seplat’s initiatives, particularly in the areas of gas production and environmental sustainability, position the company as a key player in Nigeria’s push toward energy security and economic growth.
In related news, Ethiopia was recently chosen to host the COP32 climate summit in 2027, fending off a rival bid from Nigeria. While Nigeria will not host the summit, the country remains a central player in global energy discussions, and its energy challenges and opportunities will undoubtedly feature prominently in future climate dialogues.