Skip to main content

Chairman's statement

Delivering despite headwinds

“Despite the obvious headwinds facing the sector we have made progress on all aspects of our strategy delivering best-in-class production and reserves growth, and transforming our gas business which achieved 185% year on year revenue growth.”

A.B.C. Orjiako Chairman
Chairman's statement PDF (0.17Mb)

Executive summary

An attractive portfolio of assets

Since Seplat acquired its first blocks and commenced production in 2010, the Company has increased oil and gas production and grown reserves in each year of operation and is today widely recognised as a leading Nigerian independent oil and gas operator.

2015 Highlights

Total working interest 2P reserves

MMboe +71%
2015:480 2014:281 2013:226

Working interest production

boepd +41%
2015:48,372 2014:30,823 2013:28,311


US$m -26%
2015:570 2014:775 2013:880

Gross profit

US$m -46%
2015:249 2014:459 2013:549
Executive summary PDF (0.62Mb)

Chief Executive Officer's statement

Good progress with our strategic aims

“In 2015 we delivered strong operational performance, grew our portfolio, remained firmly profitable and took our gas business across a transformational threshold with further expansion still to come. We acted quickly and decisively in response to the weak oil price environment, strengthened the core fundamentals of the business and have greatly enhanced long-term potential.”

Austin Avuru Chief Executive Officer
Chief Executive Officer's statement PDF (0.15Mb)

Corporate social responsibility

Building long-term partnerships

Since inception, Seplat has been committed to a shared-value approach to its investment in Nigeria. Our local communities have been central in fulfilling this commitment.

Corporate social responsibility PDF (0.20Mb)