Seplat Energy Completes $800 Million Mobil Assets Transaction Thursday – THISDAYLIVE

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•Nigerian firm releases prospectus, set to double oil production to 120,000 bpd

Emmanuel Addeh in Abuja

The assets Sale and Purchase Agreement (SPA) between Seplat Energy Plc and Mobil Producing Nigeria Unlimited (MPNU) is set to close officially on Thursday, a document seen by THISDAY has shown.

In its official prospectus released yesterday, the Nigerian indigenous oil and gas company disclosed that whereas the deal was previously for an initial  $1.28 billion, the final consideration has now been put at $800 million.

Essentially,  a listed company publishes its prospectus, a legal document that contains details about its business, finances, and shareholding structure, to provide investors with information about a security or investment offering.

In October, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)  approved the sale of ExxonMobil’s onshore oil and gas assets in Nigeria to the local company Seplat Energy, more than two…



Source: Thisday Newspaper