Seplat Energy Plc has announced a significant boost to its crude oil production after successfully rehabilitating 26 oil wells out of a 33-well programme. The company says this rehabilitation effort has raised its output by roughly 33,000 barrels per day (bpd).
Speaking at the 43rd Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference & Exhibition in Lagos, the company’s Chief Operating Officer, Samson Ezugworie, said: “We’ve worked on rehabilitating 33 wells and had success with 26, which are now producing about 33,000 barrels between them. That’s a step in the right direction to closing the current gap in production that could leave Nigeria with a shortfall in revenues. We will continue to rehabilitate wells, which isn’t costing us much, and we’re optimistic that we can get more production to help our industry reach the production targets the government has set.”
Ezugworie underlined that while more than 70 million Nigerians still lack access to electricity, and over 170 million rely on biomass for cooking, the country needs an energy regime that is accessible, reliable and affordable. He added, “With Nigeria’s population projected to reach 237 million by 2025 and 400 million by 2050, the urgency to act is undeniable, because today’s problems will become far worse if we don’t take actions now to solve them. We will have 160 million more people to feed and house, and we need to create 100 million new jobs. But imagine what Nigeria can achieve if we do?”
According to Ezugworie, increasing oil production is not only about improving government revenues and filling budget shortfalls, but also about driving broader GDP growth, reinforcing Nigeria’s position as a key economic player in Africa. He also noted the company’s efforts on the gas side, such as the development of the ANOH Gas Processing Plant joint venture, and the upgrade of the Sapele Gas Plant to support LPG shipments. These initiatives aim to end routine gas flaring, capture gas for monetisation, reduce emissions and power domestic industries.
In short, Seplat’s rehabilitation programme has delivered a meaningful production increase, while the broader strategy addresses energy access, environmental concerns and local industrialisation. The company underscores three guiding principles: Leadership, Partnership and Stewardship, which have underpinned its shift to Nigerian-led operations of previously international-dominated assets.
The extra 33,000 bpd of output from Seplat could generate hundreds of millions of dollars of additional annual revenue, easing budget pressures and stimulating investment in infrastructure. If sustained, this heightened production may boost Nigeria’s export earnings, strengthen the naira, improve fiscal stability and fuel growth in related sectors like refining and petrochemicals.
