Seplat Petroleum Development Company Limited, formed by two Nigerian E & P companies viz; Shebah E & P and
Platform Petroleum, was registered in 2009 as a Special
Purpose Vehicle (SPV) for the acquisition of 45% Interest in
Oil Mining Licenses 4, 38 and 41.
Maurel & Prom, a French Independent energy company,
subsequently acquired a 45% equity in SEPLAT while Shebah E
&P & Platform retained 55% to maintain SEPLAT’s indigenous
status. Maurel & Prom has a track record in E & P Operations
in Gabon, Republic of Congo, Tanzania and Colombia.
The consortium successfully acquired stakes in the three
onshore Oil Mining Licenses (OMLs 4, 38, 41) from
Shell/Total/Agip. The acquisition represents a 45% stake in
the three onshore licenses located Onshore in the Western
Niger Delta region. At acquisition, NNPC held the balance
55%, but by September 3, 2010 transferred her stake in OML
4, 38 and 41 to her subsidiary – the Nigerian Petroleum
Development Company (NPDC) Ltd. SEPLAT is the operator of
the SEPLAT/NPDC Joint Venture. The combined track records of
the consortium that founded SEPLAT in Nigeria, Gabon, Congo,
Tanzania and Colombia place them in very good stead to
efficiently operate these new assets on behalf of the Joint
The transfer of assets by International operators
(Shell/Total/Agip) to an indigenous Nigerian company has
been hailed around the world as a landmark initiative that
has given added fillip to and redefined Local Capacity
Development in the Nigerian Upstream Petroleum Industry. It
is the first time a Nigerian Independent company will
acquire a major stake from an International Oil Company,
complete with a smooth transfer of Operatorship.
After the successful acquisition on July 30th 2010, SEPLAT
assumed operatorship and production from the assets
seamlessly, accounting for a daily production of over 30,000
barrels of oil daily.
Seplat is one of the few E & P companies in Nigeria with
operational Base Office located within her host community,
thus demonstrating her deep commitment to her hosts.
On Thursday December 23, 2010, the company recorded a
milestone when it signed a Global Memorandum of
Understanding (GMoU) with oil her producing host communities
in Amukpe, Oben, Sapele and Ugborhen.
The GMoU provides the framework for partnering with the host
communities and sustaining a truly symbiotic relationship
through sponsorship of Development Projects (Capital and Non
Capital Projects) and Capacity Building Programs. In the
implementation of the GMoU, SEPLAT places high premium on
transparency, sustainable community empowerment and human
A World Class Energy Company
Delivering Premium Value to All Stakeholders
To Build and Sustain a World Class Oil
and Gas Company through Innovative Partnerships and Premium
At SEPLAT, we
believe that an important way to fulfil our commitment to
sound corporate citizenship is by incorporating best
practices into all operations and business conduct. The core
values by which SEPLAT is guided are shared by all staff.
These core values are: Safety, Environment, Partnership,
Leadership, Accountability and Teamwork.
Safety: Safety is a priority in SEPLAT’s business. We aim at
improving our safety management system as well as engaging
in ongoing communication of safety risk components, systems
and lessons learned. At SEPLAT, we strive to create a
working environment where accidents are unlikely to occur,
and the health and safety of employees, contractors and the
public are not jeopardized.
Environment: Protecting and preserving the environment is a core value at SEPLAT. We are cognizant
of our responsibility and ensure that our operations are in
complete harmony with the environment. In addition, various
are set up to promote environmental sustainability and
provide us with an opportunity to set the pace in this
Partnership: Partnership is integral to our business operations and our
relationship with the communities where we operate. We are
focused on creating, maintaining and enhancing mutually
beneficial relationships with our communities and partners.
SEPLAT collaborates with all stakeholders within and outside
the company to deliver premium value.
In working towards becoming a world-class energy company, we
work courageously and assiduously to lead and shape the
future. Leadership to us means acting responsibly at all
Accountability: We will perform at all times in a manner that makes us
accountable, responsible, and answerable to both internal
and external stakeholders. At SEPLAT, we take responsibility
for our actions.
Teamwork: We are committed to working effectively as a team in order
to deliver results far beyond individual capabilities.