With pre-interest profits of $1.1 billion, Seplat Energy Plc has achieved an outstanding nine-month performance in 2025, a milestone mostly based on assets gotten from Mobil Producing Nigeria Unlimited (MPNU), now known as Seplat Producing Nigeria Unit (SEPNU).
The News Chronicle gathered the great expansion reflects the effects of Seplat’s strategic purchase, which considerably boosted its production capacity and financial foundation. Rising year-on-year from $383 million in 2024 to $1.1 billion in 2025, the company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 190%, emphasizing the transformative power of the MPNU assets.
The acquired offshore assets, which comprised OMLs 67, 68, 70, and 104, contributed an average of 77,562 barrels of oil equivalent per day (BOEPD), pushing Seplat’s Total output to 135,636 BOEPD—a 185% increase over the prior year. This rise has confirmed Seplat’s status as a leading local oil producer in Nigeria.
Although worldwide crude oil prices fell from $82.9 to $71.9 per barrel during the same time frame, Seplat’s income surged by 204 percent to $2.18. billion as opposed to $715 million in 2024. At $879.5 million, gross profit climbed to reflect a 148 percent increase from the previous year.
Cash flow also strengthened remarkably, with net operating cash flow hitting $1.395 billion—up 230 percent year-on-year—giving Seplat greater flexibility to expand operations and reward shareholders. The company paid $384.6 million in taxes, invested $180.1 million in capital expenditure, and made an additional $64.3 million payment to ExxonMobil to finalize the MPNU deal.
Seplat’s CEO, Roger Brown, revealed that the company plans to invest about $3 billion in Nigeria between 2026 and 2030, with 70 percent of this earmarked for oil monetisation and infrastructure projects.
This strong financial performance signals a new phase for Nigeria’s indigenous oil producers, as Seplat’s strategic growth continues to redefine the country’s energy landscape and reduce dependence on international oil majors.
