BY NKECHI NAECHE ESEZOBOR--The federal government has granted official approval for Seplat Energy’s acquisition to entire issued share capital of Mobil Producing Nigeria Unlimited (‘MPNU’) (“the Transaction”).
According to statement released today said that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that consent has been granted by the Honourable Minister of Petroleum Resources in Nigeria, President Bola Ahmed Tinubu GCFR, to proceed with the acquisition of the entire issued share capital of Mobil Producing Nigeria Unlimited (‘MPNU’) (“the Transaction”).
The Energy company also thanked President Bola Ahmed Tinubu, for granting this approval, and appreciates the support and diligence of the various Ministries and regulators for all the work on this transaction.
The company is listed on the Premium Board of the Nigerian Exchange Limited (“NGX”) (NSE:SEPLAT) and the Main Market of the London Stock Exchange (“LSE”) (LSE:SEPL).
Seplat is pursuing a Nigeria focused growth strategy and is well-positioned to participate in future divestment programmes by the international oil companies, farm-in opportunities and future licensing rounds.
