RCS - Seplat Energy PLC - ANOH Gas Plant Mechanical Completion

Seplat EnergyAnnouncement

03/01/2024 08:30

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RNS Number : 5062Y  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
 James Thompson / Ayeesha Aliyu - Investor Relations               +44 203 725 6500 / +234 12 770 400

 Email:  ir@seplatenergy.com (mailto:ir@seplatenergy.com)

 FTI Consulting
 Ben Brewerton / Chris Laing                                       +44 (0) 203 727 1000
 Email:seplat@fticonsulting.com (mailto: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/ (https://www.seplatenergy.com/)

 

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