By Kelechi Onwujuba

The Chief Executive Officer of Seplat Energy Plc, Engr. Effiong Okon, has said the company has recorded an average production of 131,506 barrels of oil per day in 2025 and resuscitated 49 previously idle offshore wells back into production.


Speaking in Lagos at the 49th Nigeria Annual International Conference and Exhibition (NAICE 2026), Okon said production at its oil well has increased its resource base to about 2.49 billion barrels of oil.

Okon who spoke as the keynote speaker during the event noted that Nigeria must embrace energy addition to accelerate industrialisation, warning that the global energy system is being tested by geopolitical shocks, rising demand from AI, and selective investment flows.


He added that, for Nigeria, the energy transition should not involve taking energy away from a system that is already energy-deficient.


“The right frame is energy addition, not energy subtraction. We need more reliable electricity, more gas into industry, more LPG and cleaner cooking, more responsible oil production, more transmission, more renewables where they are competitive, more technology, more skills and more investment,” he said.


He observed that the recent geopolitical tensions, including disruptions in the Strait of Hormuz, had underscored the growing importance of energy security, as the global market increasingly looked to reliable producers that could sustain stable supplies during periods of uncertainty.


He said: “The world is asking who can deliver energy reliably when the system is stressed. This is Nigeria’s moment to lead by improving uptime, securing routes, delivering more products to the market and deepening gas infrastructure.


According to him, natural gas remains at the heart of Nigeria’s industrialisation drive, with the potential to fuel industries, fertiliser and petrochemical plants, data centres, compressed natural gas (CNG), liquefied petroleum gas (LPG), and cleaner cooking solutions.


He added that Africa’s abundant energy resources would only deliver lasting prosperity through sustained investment in infrastructure, industrialisation, and job creation.


He also reaffirmed Seplat’s commitment to supporting the Federal Government’s goal of raising crude oil production to three million barrels per day and gas production to 12 billion standard cubic feet per day by 2030.


Recall that the resuscitation of the previously idle oil wells is part of the drive by the company to support the move to raise Nigeria’s oil production.


Nigeria currently produces 1.7 m barrels of crude oil daily while it has set a target of 2030 to raise crude production to 3m barrel per day.