Seplat targets gas export to boost FX earnings as reserves, output surge after MPNU acquisition
By Yunus Yusuf
Seplat Energy Plc, one of Nigeria’s leading indigenous energy companies, has announced plans to begin exporting gas in a bid to enhance foreign exchange (FX) earnings and deliver greater value to stakeholders.
Mr. Dotun Isiaka, Managing Director of Seplat Producing Nigeria Unlimited (SEPNU), disclosed this during a panel session organized by the Petroleum Technology Association of Nigeria (PETAN) at the ongoing Offshore Technology Conference (OTC) 2025 in Houston, Texas, USA.
The session, moderated by Mr. Austin Avuru, Executive Chairman of AA Holdings, focused on Seplat’s future in Nigeria’s gas sector following its recent acquisition of Mobil Producing Nigeria Unlimited (MPNU), which holds significant gas reserves capable of serving both export and domestic markets.
In his remarks, Isiaka said, “The answer is really simple — we are focused on both domestic supply and export. But let me emphasize that Seplat is committed to energy access for all Nigerians. We believe gas should be the primary driver of the nation’s economy.”
He underlined the importance of indigenous leadership in the sector, stating that expertise must be built from within. “Seplat is at the forefront, playing a leadership role. But this requires collaboration across the entire value chain,” he added.
Providing an update on Seplat’s gas reserves and production, Isiaka explained:
“Onshore, we currently have a combined processing capacity of around 550 million standard cubic feet per day (MMscfd) between the Oben and Sapele gas plants. However, we’re pushing about 200 million cubic feet short of that capacity, so we need to bring in more gas from nearby suppliers.”
He also mentioned that the ANOH Gas Plant — with a processing capacity of 300 MMscfd — is essentially complete.
“While our initial plan was to channel ANOH’s output to the domestic market, in the near term we may need to explore alternative off-take options, including export,” he noted.
Speaking about the recently acquired MPNU assets, Isiaka revealed that they contain approximately 14 trillion cubic feet (TCF) of gas, with infrastructure already in place to support processing and distribution.
“These reserves are near existing infrastructure, including three compression hubs with a combined capacity of 1.7 billion cubic feet per day. The key requirement is upstream investment to extract and transport the gas to these facilities, followed by pipeline delivery to shore,” he explained.
Isiaka concluded by emphasizing that there is sufficient gas to meet both domestic demand and export obligations.
“We have enough resources to serve both markets effectively,” he said.
