NNPC Seplat Joint Venture Acquisition

Seplat Energy Plc has agreed to sell a 10% interest in the NNPCL-SEPNU Joint Venture to the Nigerian National Petroleum Company Limited for $281.6 million, expected to enhance shareholder returns and strengthen its balance sheet.

Seplat Energy Plc has agreed to sell a 10% stake in its joint venture assets with NNPC Limited for $281 million. This transaction aims to optimize Seplat's asset portfolio and strengthen the partnership between the two companies in Nigeria's oil and gas sector.

Seplat Energy agrees to sell a 10% JV stake to NNPC Limited for $281.6m, with $140m earmarked for shareholder dividends.