REG - Seplat Energy PLC - Commissioning of Amukpe-Escravos Pipeline

Seplat EnergyAnnouncement

01/08/2022 08:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220801:nRSA4102Ua&default-theme=true

RNS Number : 4102U  Seplat Energy PLC  01 August 2022

 

 

Seplat Energy Plc ("Seplat Energy" or "the Company")

Commissioning of Amukpe-Escravos Pipeline

 

Lagos and London, 1 August 2022: Seplat Energy Plc, a leading Nigerian energy
company listed on the Nigerian Exchange and the London Stock Exchange, is
pleased to announce that it has begun commercial injection of crude oil
through the new Amukpe-Escravos Pipeline.

The 67km mostly underground pipeline is expected to provide a more reliable
and secure export route for liquids from Seplat Energy's major assets OML 4,
38 and 41, connecting them with the Chevron-operated Escravos Terminal. It has
a capacity of 160,000 bbl/day, of which the Seplat Energy / NPDC joint venture
is entitled to inject 35,000 bbl/day. Dewatering was completed on Friday 29
July and the Site Acceptance Test is now underway with commercial volumes.

Until now, the Company has relied on the Trans Forcados System, which has
experienced numerous disruptions in recent years due to pipeline maintenance
and vandalism, which have impacted the Company's revenues.

Roger Brown, Chief Executive Officer of Seplat Energy, said:

"The commercial launch of the Amukpe-Escravos Pipeline is a significant event
for Seplat Energy and for Nigeria, offering a more secure and reliable export
route that will assure higher revenues and profitability for Seplat Energy,
enabling us to make a larger contribution to Nigeria's economy.

We commend the work that has made this possible and appreciate the efforts of
our partners and all contractors involved to create this more reliable and
secure export route for Nigeria's oil."

 

Enquiries:

 Emeka Onwuka, Chief Financial Officer                            +234 1 277 0400
 Edith Onwuchekwa, Legal Director/Company Secretary
 Carl Franklin, Head of Investor Relations
 Ayeesha Aliyu, Investor Relations
 Chioma Nwachuku, Director External Affairs & Sustainability

 Ben Brewerton / Christopher Laing                                +44 203 727 1000

                                                                  seplatenergy@fticonsulting.com

 Tom Reid / Luke Spells                                           +44 207 986 4000

 Chris Sim / Charles Craven / Jarrett Silver                      +44 207 597 4000

Notes to editors

Seplat Energy Plc is Nigeria's leading indigenous energy company. It is listed
on the Nigerian Exchange Limited (NGX: SEPLAT) and the Main Market of the
London Stock Exchange (LSE: SEPL).

Seplat Energy is pursuing a Nigeria-focused growth strategy through
participation in asset divestments by international oil companies, farm-in
opportunities, and future licensing rounds. The Company is a leading supplier
of gas to the domestic power generation market. For further information please
refer to the Company website, http://seplatenergy.com/
(http://seplatenergy.com/)

Responsibility for publication

This announcement has been authorised for publication on behalf of Seplat
Energy by Emeka Onwuka, Chief Financial Officer, Seplat Energy Plc.

 

Signed:

 

Emeka Onwuka

Chief Financial Officer

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUPURARUPPUQG