|
Listen now
Getting your Trinity Audio player ready...
|
Seplat Energy Plc, a Nigerian independent energy company listed on both the Nigerian Exchange Limited and London Stock Exchange, has announced that it has completed the replacement of the new Inlet Gas Exchanger (IGE) module on the East Area Project (EAP) platform, located in OML 67, offshore Nigeria.
The IGE module is an integral part of the Natural Gas Liquid (NGL) extraction process and was the main capital project in Seplat’s offshore operations in 2025; the project was completed on budget.
Since the EAP complex was restarted, the facility has been performing in-line with expectations.
Gross NGL sales volumes in late November at EAP have increased by more than 100% to approximately 6,850 bopd (~3,500 bopd net working interest), up from of 3,360 bopd (~1,720 bopd net working interest) recorded in the nine months to 30 September 2025.
Further improvements in NGL sales volumes, up to approximately 11,000 bopd (~5,700 bopd net working interest), are expected over the coming months as the facility reaches target efficiency levels.
NGLs (particularly pentane) represent some of the highest margin barrels produced in Seplat’s portfolio, meaning this boost directly and significantly enhances the company’s profitability and revenue stream.
The project work included load-out, lifting, installation, tie-in, commissioning and start-up activities which were carried out over a six-week period and completed during November 2025.
Overall, work totalling over 2.2million-man hours was completed safely, without incident and to the highest industry standards.
Roger Brown, Chief Executive Officer of Seplat Energy, said:
“We are pleased to have completed the first major capital project on our offshore operations on budget. Replacement of the IGE unit on our EAP platform builds on the success of our idle well recovery program as part of near-term production growth catalysts on the offshore assets that we acquired in December 2024.
“The new IGE unit is critical to efficient NGL processing operations. NGLs, particularly pentane, represent some of the highest margin barrels produced in our portfolio. The butane we produce is being sold directly into the domestic market, improving energy access and supporting a drive towards clean cooking solutions for Nigeria.
“The successful completion of this project demonstrates the quality of our project and operations teams, the strong collaboration with our partners, the continued support of the local communities and Seplat Energy’s commitment to drive growth offshore that will deliver value for Nigeria and our stakeholders.”
Follow the MoneyCentral Nigeria channel on WhatsApp: Click here!
