Seplat Furthers Steps To Acquire $1.3 Billion ExxonMobil Assets

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Seplat Energy Plc has presently expressed continuous interest in acquiring fully oil and gas assets from Exxon Mobil Corporation, despite delays lasting over a year.

 

Seplat’s CEO, Roger Brown, affirms their commitment to completing the deal and hopes for a more favourable outcome under Nigeria’s new President, Bola Ahmed Tinubu.

 

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This acquisition Rogers explains will boost Seplat’s production capacity and increase its proven and probable reserves, with a focus on the hidden value of natural gas in the assets.

 

However, Seplat Energy Plc, a Nigerian and London-listed energy company, has since expressed continued interest in acquiring oil and gas assets from Exxon Mobil Corporation, the deal that has faced delays for over a year, as reported by Bloomberg.

 

According to a Bloomberg report, Seplat Energy Plc is optimistic about Nigeria’s new President, Bola Ahmed Tinubu, taking a different approach to the transaction compared to his predecessor, Muhammadu Buhari. The former president had initially approved the deal but later reversed his decision.

 

Brown’s statement highlights the company’s determination to proceed with the acquisition and its expectation of a more favourable outcome under President Tinubu’s leadership.

Hear Brown, “We are still interested in the assets. We still like the company we’re buying. We think it’s a game-changing operation.”

 

And Roger Brown confirm that his firm is only purchasing a subsidiary rather than licenses.

 

Hear him, “What we are buying are shares sold by US companies, so that is a completely different animal because we are buying a company. Exxon’s read of the situation is the same.”

 

 

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