The acquisition is key to actualising the most ambitious move ever by Seplat, which is both listed in London and Lagos, to scale output
is upbeat it will be able to finalise talks with parties that will allow it to advance to the decisive stage of the deal to purchase ExxonMobil’s offshore shallow water business.
The deal, which has ground to a halt for nearly two years, is expected to expand Seplat’s production by as much as 186 per cent.is a partner to us and we want to respect the partnership,” Reuters quoted CEO Roger Brown as saying in an interview Wednesday.Owning the assets also entitles Seplat to run Qua Iboe Terminal, the export point of one of Nigeria’s top oil grades, produced from the nearby oilfields that ExxonMobil jointly operates with NNPC Limited.
“We are very optimistic that parties to the transaction will go back, look at the position of the regulator and come back by abiding by the provisions of Nigerian laws and the right thing will be done,” Reuters quoted Gbenga Komolafe, the NUPRC chief, as saying in an interview on the sidelines of Africa Oil Week in Cape Town.
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