Seplat Energy Plc working revenue rose to N285.2 billion in Half-12 months 2024, from N43.5 billion 12 months-on-12 months with money generated hitting N308.2 billion.
In its unaudited outcomes for the six months ended 30 June 2024, it declared a $6 Cents whole dividend per share for the interval.
The corporate’s manufacturing averaged 48,407 barrels of oil equal per day, boepd (6M 2023: 50,805 boepd), at midpoint of steerage (44,000 boepd – 52,000 boepd).
Additionally, Seplat Vitality superior its working revenue to N285.2bn from N60.2bn 12 months-on-12 months. It achieved greater than 4.9 million hours with out Misplaced Time Harm (LTI) at Seplat-operated property in 6M 2024.
The agency, on 14 June 2024, introduced that it had been notified of a settlement reached between Nigerian Nationwide Petroleum Firm Restricted (NNPC) and MPNU on the subject of the MPNU transaction in addition to the termination of the court docket proceedings.
Seplat is concentrated on securing regulatory approvals within the close to time period.
Advert
Commenting on the outcomes, the chief government officer(CEO), Seplat Vitality, Roger Brown mentioned: “Seplat Vitality delivered a stable efficiency within the first half of 2024. Continued operational power positions us effectively for the second half of the 12 months, which is ready to be an lively one for the corporate. Reported money era was softened by the underlift within the interval, however that is largely a timing impact and our money era and stability sheet stay sturdy.
“In Could, we have been honoured to obtain President Tinubu for the commissioning of the ANOH gasoline plant and related pipelines, and the venture stays on monitor for first gasoline in 3Q 2024. We thank our authorities companions for his or her efforts in direction of completion of vital pipeline infrastructure in latest weeks. In 2H 2024 we additionally stay up for first gasoline on the Sapele gasoline plant, which alongside debottlenecking actions at Oben ought to additional improve gasoline manufacturing. We’re effectively on our strategy to rising gasoline manufacturing in assist of Nigeria’s ‘Decade of Fuel’.
“In our oil enterprise, early outcomes from Sibiri have been modestly forward of expectations, as effectively, having accomplished the primary of two deliberate wells, manufacturing at Abiala ought to begin within the coming weeks, lastly we glance to larger manufacturing at Ohaji as soon as secure operations on the Trans Niger Pipeline are achieved.
Mixed with progress in our gasoline enterprise, and we’re trying ahead to a robust second half with momentum to hold into 2025.
“Throughout the quarter quite a lot of essential steps have been made that assist completion of our proposed acquisition of MPNU. We’re assured and dedicated to its completion and proceed to work with regulators, authorities, and different events to make sure its profitable completion.”
