Seplat sells 10% JV stake to NNPC for $281.6m (₦384.38 billion)
Seplat Energy Plc has signed a binding Heads of Agreement with the Nigerian National Petroleum Company Ltd (NNPC) to sell a 10 per cent working interest in the NNPC/Seplat Energy Producing Nigeria Unlimited (SEPNU) Joint Venture for $281.
Commenting on the transaction, the Chief Executive Officer of Seplat Energy, Roger Brown, described the NNPCL/SEPNU Joint Venture as one of Nigeria’s most strategic oil assets.
Seplat said the disposal would not affect the joint venture’s 2026 production target, although SEPNU’s contribution to the group’s overall production guidance would decline following the transaction.
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