Seplat Energy Plc, the energy conglomerate co-founded and partly owned by Nigerian energy tycoon Austin Avuru, plans to invest between 2.5 billion and 3 billion in the country over the next five years. The move comes as the company consolidates its position following the landmark acquisition of ExxonMobils shallow-water assets, completed late last year .
The deal transferred Mobil Producing Nigeria Unlimited MPNU to Seplat in what Chief Executive Officer Roger Brown called a truly transformational step, turning the company into one of the largest energy producers in Nigeria. The acquisition of MPNU has made Seplat a larger, stronger and more diversified company, Brown said during the firms Capital Markets Day presentation on Sept. 18.
Focus of the 3 billion investment
