Seplat Energy Converts Onshore Assets to PIA Regime for Enhanced Operations

Seplat Energy has successfully converted its onshore assets to the PIA regime, replacing the Petroleum Profit Tax regime. This move is aimed at increasing investment, production growth, and operational efficiency.

The conversion was completed in compliance with the Nigerian Upstream Petroleum Regulatory Commission requirements. Seplat Energy's CEO, Roger Brown, emphasized the importance of the PIA fiscal regime in delivering value creation opportunities and improving profit margins.

The company anticipates positive impacts on its medium-term guidance and aims to enhance profitability and cash flow margins in its onshore business.