Seplat Energy PLC, leading Nigerian independent power Company provided on both the Nigerian Exchange and the London Stock Exchange, has actually revealed its audited economic outcomes for the twelve months finished 31 December 2024, uploading revenue gross of N561.4 billion. The quantity stands for a rise of 347 percent year on year compared to N125.5 billion reported in the previous year.
The development was with a solid functional and calculated development in 2024 finishing with the transformational procurement of Mobil Producing Nigeria Unlimited (MPNU)– relabelled Seplat Energy Producing Nigeria Unlimited (SEPNU).
For 2024, the self-confidence in Seplat Energy’s organization expectation was underpinned by unique reward, which raised the complete 2024 reward to $ 16.5 Cents per share, up by 10 percent contrasted to 2023.
Seplat Energy expanded its profits through to N1.652 trillion from N696.9 billion Year- on-Year with money produced from its procedures increasing to N567.5 billion from N340.6 billion Year- on-Year).
Production (onshore possessions) balanced 48,618 barrels of oil comparable daily (boepd) up 2 percent from 2023 (47,758 boepd), and within assistance. Including 19 days of SEPNU manufacturing (annualised typical payment of 4,329 kboepd), reported manufacturing got to 52,947 boepd, 11 percent more than 2023.
The Company’s operating revenue likewise increased to N647.9 billion from N163.7 billion Year- on-Year whilst revenue gross rose to N561.4 billion from N125.5 billion Year- on-Year
In the exact same capillary, gross revenue for the Company struck N710.1 billion from N349.3 billion Year- on-Year, as the business attained greater than 11.0 million hours (2023: 8.7 million hours) without Lost Time Injury (LTI) on Seplat- run possessions in 2024.
Seplat Chief Executive Officer, Roger Brown, stated: “2024 was truly a defining year for Seplat Energy. In addition to delivering key growth projects in our existing onshore business, we closed out 2024 by completing the acquisition of SEPNU, the largest in the Company’s history, which adds significant scale and attractive low-cost growth potential. In the first few months since the acquisition, it has already become clear that there is significant prize in the offshore shallow water, operating a closed loop system from well-head production to hydrocarbon sales at the terminal.
“This year we will focus on re-opening previously shut-in wells in SEPNU, alongside another full drilling campaign for our onshore assets and we look forward to delivering first gas at ANOH. We will also accelerate the subsurface work and contracting needed to commence an infill drilling campaign at SEPNU.
“Our confidence in the future trajectory for the enlarged business, combined with our strong financial position, means that we are delighted to declare a special dividend again for 2024, lifting the total dividend for 2024 to $16.5 cents per share, an uplift of 10 per cent from 2023.
The Seplat Energy team is rightly proud of its achievements in 2024, and we fully intend to continue our mission to create significant shared value and enhance prosperity for all our stakeholders in Nigeria and beyond.”
