Seplat Energy, the Nigerian oil and gas group co-founded by Austin Avuru, plans to invest between $2.5 billion and $3 billion in the country over the next five years.
The move follows Seplat’s landmark acquisition of ExxonMobil’s shallow-water assets last year, a deal that transformed it into one of Nigeria’s largest energy producers.
CEO Roger Brown called it “a truly transformational step” for the company.
Most of the new investment will go into drilling and offshore infrastructure, while a significant share is earmarked for gas projects such as the ANOH Gas Plant and LNG development.
Seplat expects joint-venture gas sales to reach 1 billion standard cubic feet per day by 2030.
Since the ExxonMobil deal closed, Seplat has already revived 29 idle wells, boosting production by 26,000 barrels per day and strengthening Nigeria’s energy output.
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