TIDMSEPL

Seplat Energy PLC

03 January 2024

ANOH Gas Plant Mechanical Completion

Lagos and London, 3(rd) January 2024: Seplat Energy Plc ("Seplat" or the "Company"), a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and London Stock Exchange, is pleased to announce that the ANOH gas plant installation works reached mechanical completion on 29th December 2023, in line with the revised timetable.

This milestone has been achieved without a single recordable Lost Time Incident (LTI) across 11 million man hours, a testament to the focus of the whole team on safe and secure operations.

The ANOH Gas Processing Company (AGPC), an incorporated joint venture between Seplat Energy and NNPC Gas Infrastructure Company (NGIC) Ltd, is delivering the ANOH gas plant with Phase One processing capacity of 300mmscfd. Upon commencement of operations, the plant will deliver dry gas, condensate, and LPG to customers. It is envisaged that AGPC will sell the gas and LPG domestically, and the condensates to the international market.

The other key steps to first gas, as outlined in the Company's Interim Results announcement, were the drilling and hook-up of the Upstream wells and completion of essential third-party infrastructure: the OB3 pipeline river crossing and Spur Line connecting OB3 to the gas plant.

Completion of the third well (ASSN-05) was previously announced and the fourth and final well (ASSN-06) planned ahead of first gas has also now been completed by the upstream unit operator, SPDC.

We now look forward to the completion of the necessary plant pre-commissioning activities and essential third-party infrastructure which will enable commissioning of the gas plant and commencement of operations. Our previously communicated guidance for first gas is unchanged.

Roger Brown, Chief Executive Officer of Seplat Energy, said:

"ANOH is an important strategic project for Seplat, it will roughly double our gas production, and we are focused on the path to first gas.

"Once completed, ANOH will provide two income streams for Seplat: wet gas sales from OML 53 to the gas plant and dividends from the joint venture ANOH Gas Processing Company, which will operate the plant.

"ANOH's gas will further reduce Seplat's and Nigeria's carbon intensity and increase energy supplied to the Nigerian domestic market."

 
Seplat Energy Plc 
                                                      +44 203 725 6500 / +234 
James Thompson / Ayeesha Aliyu - Investor Relations    12 770 400 
Email: ir@seplatenergy.com 
FTI Consulting 
Ben Brewerton / Chris Laing                           +44 (0) 203 727 1000 
Email: seplat@fticonsulting.com

About Seplat Energy

Seplat Energy PLC (Seplat) is Nigeria's leading indigenous energy company. Listed on the Nigerian Exchange Limited (NGX: SEPLAT) and the Main Market of the London Stock Exchange (LSE: SEPL), we are pursuing a Nigeria-focused growth strategy in oil and gas, as well as developing a Power & New Energy business to lead Nigeria's energy transition.

Seplat's energy portfolio consists of seven oil and gas blocks in the prolific Niger Delta region of Nigeria, which we operate with partners including the Nigerian Government and other oil producers. We also have a revenue interest in OML 55. We operate a 465MMscfd gas processing plant at Oben, in OML4, and are building the 300MMscfd ANOH Gas Processing Plant in OML53 and a new 85MMscfd gas processing plant at Sapele in OML41, to augment our position as a leading supplier of gas to the domestic power generation market. https://www.seplatenergy.com/

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NRASSSSADELSEFF

(END) Dow Jones Newswires

January 03, 2024 03:30 ET (08:30 GMT)

Grafico Azioni Seplat Energy (LSE:SEPL)
Storico
Da Mar 2024 a Apr 2024 Clicca qui per i Grafici di Seplat Energy
Grafico Azioni Seplat Energy (LSE:SEPL)
Storico
Da Apr 2023 a Apr 2024 Clicca qui per i Grafici di Seplat Energy