NNPC & Seplat Energy

NNPC: NNPC Limited is the buyer, increasing its working interest in the JV from 60% to 70%, aligning with its post-PIA commercial expansion strategy and strengthening its upstream portfolio.

Seplat Energy: Seplat is the seller, monetizing a 10% stake in its JV for $281.6m to reduce debt and fund a special dividend, while retaining operatorship. The deal enhances its financial flexibility and shareholder returns.

NNPC: As a joint venture partner, NNPC co-funded and co-implemented the teacher training programme, reinforcing its community engagement and corporate social responsibility profile.

Seplat Energy: Seplat Energy led the STEP initiative, demonstrating its commitment to education and community development, which may enhance its reputation and stakeholder relations.

NNPC: NNPC is the lead entity, signing all six agreements to advance its gas-based industrialisation agenda, enhancing its role as a key driver of Nigeria's energy security and economic transformation.

Seplat Energy: Seplat Energy, through its joint venture with NNPC, signed a 15-year gas supply agreement with UTM FLNG, supporting the FLNG project and monetising gas reserves.

NNPC: Planned reform and listing on the capital market announced, expected to deepen transparency and attract investment.

Seplat Energy: Oil producer benefiting from FX unification and acquisition approvals, boosting earnings.

NNPC: NNPC's subsidiary BGIN Infrastructure, LLC is a partner in the ANOH gas project, supporting Nigeria's gas development goals.

Seplat Energy: Seplat Energy's joint venture ANOH Gas Processing Company is operational, supplying gas to Indorama, boosting its revenue and strategic position.

Seplat Energy: Seplat Energy is undertaking routine maintenance on its gas production facilities, which will lead to a temporary reduction in gas supply to power generation companies in Nigeria.