Seplat Energy Reactivates 49 Oil Wells, Boosts Production

Engr. Effiong Okon, the Chief Executive Officer of Seplat Energy Plc, announced that the company has reactivated 49 previously idle offshore oil wells, resulting in an average production of 131,506 barrels of oil per day in 2025. Speaking at the 49th Nigeria Annual International Conference and Exhibition (NAICE 2026) in Lagos, Okon stated that this increase has raised Seplat's resource base to approximately 2.49 billion barrels of oil.

He emphasized the need for Nigeria to focus on energy addition to foster industrialization, especially in light of global energy challenges. Okon highlighted the importance of energy security amid geopolitical tensions and reaffirmed Seplat's commitment to the Federal Government's target of raising crude oil production to three million barrels per day and gas production to 12 billion standard cubic feet per day by 2030.

Currently, Nigeria produces 1.7 million barrels of crude oil daily, and the revival of these oil wells is part of Seplat's strategy to enhance the country's oil output.