Seplat Energy Plc
Seplat Energy Plc is a Nigerian independent oil and gas company registered with the Corporate Affairs Commission under registration number RC 824838, incorporated in Abuja on 17 June 2009 as Seplat Petroleum Development Company Plc. The company changed its name to Seplat Energy Plc in May 2021 to reflect a broadened focus beyond petroleum into wider energy activities. Its registered office is in Lagos, Nigeria, and its CAC registry status is recorded as active.
Seplat Energy Plc explores for, develops, produces and processes crude oil and natural gas across onshore and shallow-water acreage in the Niger Delta. Historically built around interests in OMLs 4, 38 and 41, the company more than doubled its production base after completing, on 12 December 2024, the acquisition of Mobil Producing Nigeria Unlimited ("MPNU") from ExxonMobil Corporation, a deal reported at roughly $800 million net of completion adjustments against a headline value of up to $1.28 billion. MPNU, since renamed Seplat Energy Producing Nigeria Unlimited ("SEPNU"), held a 40% operated interest in OMLs 67, 68, 70 and 104, the Qua Iboe export terminal and the Yoho floating storage and offloading facility, together with roughly 1,000 staff. The enlarged group now holds interests across 11 blocks comprising 48 producing oil and gas fields, five gas-processing facilities and three export terminals.
Seplat Energy’s ordinary shares are dual-listed, trading on the Nigerian Exchange as SEPLAT and on the London Stock Exchange as SEPL (ISIN NGSEPLAT0008), with approximately 599.9 million ordinary shares in issue.
For the year ended 31 December 2025, Seplat Energy Plc reported consolidated group revenue of $2,726 million, up 144.2% year-on-year, consolidated adjusted EBITDA of $1,275.4 million, and average group production of 131,506 boepd, reflecting the first full year of contribution from the MPNU/SEPNU assets. The board declared total dividends of 25.0 US cents per share for the 2025 financial year, a 52% increase on 2024.
In June 2026 the board announced a leadership transition: Chief Executive Officer Roger Thompson Brown retired on 31 July 2026 after six years in the role, succeeded by Engr. Effiong Okon as CEO and Executive Director from 1 August 2026, while Chairman Senator Udoma Udo Udoma is due to retire on 31 December 2026 in favour of Tony O. Elumelu. Elumelu’s Heirs Energies Limited became the largest shareholder in Seplat Energy Plc in December 2025 after acquiring Maurel & Prom’s 20.07% stake for approximately $496 million.
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Shareholders
4
Shareholders of Seplat Energy Plc
The on-file registry record for Seplat Energy Plc lists four institutional holders (Parametric Emerging Markets Fund, SEI Institutional Investment Trust – Emerging Markets Equity Fund, Aegis Value, Inc. and Parametric Tax-Managed Emerging Markets Fund), each verified as of 2 August 2026, with combined disclosed holdings of roughly 7.04 million ordinary shares. Cross-checking these quantities against Seplat Energy’s approximately 599.9 million shares in issue shows the percentage figures attached to these four records in the source feed (which sum to over 57%) are inconsistent with the underlying share counts – for example, 3,037,908 shares is approximately 0.51% of shares in issue, not the 24.79% recorded against it. This appears to be a calculation or scaling error in the underlying data feed and is flagged here rather than repeated as fact.
Verified major shareholders, drawn from Nigerian Exchange (NGX) notifications and company disclosures, differ from the four names above. As of December 2025/January 2026, Heirs Energies Limited, part of Tony Elumelu’s Heirs Holdings group, is the largest disclosed shareholder with approximately 20.07% (around 120.4 million ordinary shares), acquired from French group Maurel & Prom. Other major holders reported in press coverage of NGX and company disclosures include Petrolin Group (linked to Samuel Dossou-Aworet) at approximately 13.77%, AAH Holdings (the vehicle of Seplat co-founder Austin Avuru) at approximately 8.5%, and Seplat co-founder Professor A.B.C. Orjiako at approximately 6.43%. These figures come from secondary press coverage of NGX/company disclosures rather than a primary shareholding register reviewed directly for this profile, and should be treated as indicative rather than verified to the same standard as the CAC-sourced registry data above.
Data availability
Major shareholders only: as a dual-listed plc, Seplat Energy Plc publishes substantial/notifiable shareholdings above regulatory disclosure thresholds rather than a complete shareholder register, and the four-holder registry snapshot above does not reflect the company’s full institutional or founder shareholder base.
Sources
- Nigerian Exchange Group, "Notification of Major Holdings / Corporate Actions", January 2026 – https://doclib.ngxgroup.com/Financial_NewsDocs/45697_SEPLAT_ENERGY_PLC-NOTIFICATION_OF_MAJOR_HOLDINGS__CORPORATE_ACTIONS_JANUARY_2026.pdf
- Nairametrics, "Heirs Energies buys 20.07% Seplat stake from Maurel & Prom for $500 million", December 2025 – https://nairametrics.com/2025/12/31/heirs-energies-limited-acquires-maurel-proms-20-07-stake-in-seplat-energy/
- Businessday NG, "Tony Elumelu’s Heirs Energies becomes Seplat’s largest shareholder in $500m deal" – https://businessday.ng/news/article/tony-elumelus-heirs-energies-becomes-seplats-largest-shareholder-in-500m-deal/
- stockanalysis.com, Seplat Energy (LON:SEPL) statistics (shares in issue), retrieved September 2026 – https://stockanalysis.com/quote/lon/SEPL/statistics/
Registry feed — rows exactly as filed with Corporate Affairs Commission (CAC), including entries the profile above does not cover.
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| Aegis Value, Inc. | 25.8% | Corporate Affairs Commission (CAC) | |
| SEI Institutional Investment Tr-Emerging Markets Equity Fd | 24.8% | Corporate Affairs Commission (CAC) | |
| Parametric Emerging Markets Fund | 3.5% | Corporate Affairs Commission (CAC) | |
| Parametric Tax-Managed Emerging Markets Fund | 3.4% | Corporate Affairs Commission (CAC) |
Officers
7
Directors and officers of Seplat Energy Plc
The on-file registry record shows seven officers, five of them active, including CEO Roger Thompson Brown. Checked against Seplat Energy’s own board announcements, this is now materially out of date: Mr Brown retired as Chief Executive Officer and as a board director on 31 July 2026 after 13 years with the company, including six as CEO, and was succeeded as CEO and Executive Director by Engr. Effiong Okon effective 1 August 2026 – a change not yet reflected in the on-file officer record.
Other current executive directors confirmed active as of this review are Eleanor Adaralegbe (Chief Financial Officer and Executive Director, in role since 2024) and Samson Chibogwu Ezugworie (Chief Operating Officer and Executive Director, in role since June 2022). Chioma Nwachuku (Director of External Affairs and Sustainability) and Edith Onwuchekwa (Company Secretary and Director of Legal) also appear on the on-file record; no independent source reviewed contradicts their listed status. The board is chaired by Senator Udoma Udo Udoma, CON, independent Chairman since April 2024, who is due to retire on 31 December 2026.
Recent officer changes
- CEO succession: Roger Thompson Brown retired as CEO and board director on 31 July 2026; Engr. Effiong Okon was appointed CEO and Executive Director effective 1 August 2026. Source: Seplat Energy board announcement, June 2026.
- Chairman succession announced: Senator Udoma Udo Udoma is to retire as Chairman on 31 December 2026; Mr Tony O. Elumelu, CFR, has been elected to succeed him as Chairman effective 1 January 2027. Source: Seplat Energy board announcement, June 2026.
- New non-executive director: Tony O. Elumelu joined the Seplat Energy board in January 2026 ahead of his designated chairmanship.
Data availability
Nigerian CAC filings and NGX/LSE regulatory announcements disclose current and departing directors with effective dates, but nationality and country of residence are not stated in the sources reviewed for this profile and are therefore not disclosed here.
Sources
- Investegate, "Board and Executive Management Changes", Seplat Energy Plc company announcement, June 2026 – https://www.investegate.co.uk/announcement/rns/seplat-energy-di—sepl/board-and-executive-management-changes/9609563
- Premium Times, "Seplat Energy appoints Elumelu as chairman, names new CEO" – https://www.premiumtimesng.com/business/business-news/886280-seplat-energy-appoints-elumelu-as-chairman-names-new-ceo.html
- Seplat Energy, leadership page for Engr. Effiong Okon – https://www.seplatenergy.com/our-company/our-governance/leadership/engr-effiong-okon-fnse-fei/
- theorg.com, Eleanor Adaralegbe, CFO & Executive Director at Seplat Energy, retrieved September 2026 – https://theorg.com/org/seplat-energy/org-chart/eleanor-adaralegbe
Registry feed — rows exactly as filed with Corporate Affairs Commission (CAC), including entries the profile above does not cover.
Group Structure
Group structure of Seplat Energy Plc
Seplat Energy Plc is the ultimate parent and listed holding company of the Seplat group; no filing reviewed identifies a controlling corporate parent above Seplat Energy Plc itself. Heirs Energies Limited holds the largest single shareholding, at approximately 20.07% following its December 2025 purchase from Maurel & Prom, but this is a substantial-shareholder relationship rather than a verified controlling parent-subsidiary relationship, and is treated as such here rather than as a "parent company."
Verified direct subsidiaries, drawn from Seplat Energy’s own disclosures and reputable press reporting, include Seplat Petroleum Development Company Limited (the group’s principal Nigerian upstream operating subsidiary), Seplat Energy Producing Nigeria Unlimited (formerly Mobil Producing Nigeria Unlimited, acquired from ExxonMobil Corporation on 12 December 2024), Newton Energy Limited, ANOH Gas Processing Company Limited (incorporated 2017) and Seplat East Onshore Limited. All identified group entities operate in Nigeria. Ownership percentages within the group were not confirmed to the standard required for this profile and are not stated.
Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|---|---|---|---|---|---|---|
| Seplat Petroleum Development Company Limited | Nigeria | Not disclosed | Direct subsidiary | Ownership percentage not disclosed | Active | September 2026 |
| Seplat Energy Producing Nigeria Unlimited (formerly Mobil Producing Nigeria Unlimited) | Nigeria | Not disclosed | Direct subsidiary | Ownership percentage not disclosed | Active | December 2024 |
| Newton Energy Limited | Nigeria | Not disclosed | Direct subsidiary | Ownership percentage not disclosed | Active | September 2026 |
| ANOH Gas Processing Company Limited | Nigeria | Not disclosed | Affiliate (joint venture) | Ownership percentage not disclosed | Active | September 2026 |
Recent structural changes
- Completed acquisition, on 12 December 2024, of Mobil Producing Nigeria Unlimited from ExxonMobil Corporation for consideration reported at approximately $800 million net of adjustments (headline value up to $1.28 billion), subsequently renamed Seplat Energy Producing Nigeria Unlimited.
Data availability
Partial: Nigeria’s CAC does not publish a consolidated group ownership chart, so this section is compiled from Seplat Energy’s own public reporting and confirmed transaction announcements rather than a complete, independently verified subsidiary register.
Sources
- Channels Television, "Seplat Energy Completes Acquisition Of MPNU From ExxonMobil", December 2024 – https://www.channelstv.com/2024/12/12/seplat-energy-completes-acquisition-of-mpnu-from-exxonmobil/
- Offshore Energy, "Seplat formally brings ExxonMobil’s Nigerian business into its fold" – https://www.offshore-energy.biz/seplat-formally-brings-exxonmobils-nigerian-business-into-its-fold/
- Proshare, "Seplat Announces Commencement of Proceedings Against Its Subsidiary Newton Energy" – https://www.proshare.co/articles/seplat-announces-commencement-of-proceedings-against-its-subsidiary-newton-energy
- Seplat Energy, "History", corporate website – https://www.seplatenergy.com/our-company/our-business/who-we-are/history/
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Frequently Asked Questions
Who owns Seplat Energy Plc?
Four shareholders are currently on record for Seplat Energy Plc, filed with Corporate Affairs Commission (CAC). The largest of these is Aegis Value, Inc., holding 25.8% — the largest recorded stake — followed by SEI Institutional Investment Tr-Emerging Markets Equity Fd at 24.8%; the remaining 2 shareholders shown hold smaller stakes. Because every shareholder shown is a company rather than an individual, the ownership chain continues above this level, and no beneficial owner can be established from this filing alone.
Who is Seplat Energy Plc's UBO (Ultimate Beneficial Owner)?
Every shareholder recorded for Seplat Energy Plc is itself a company rather than a natural person, so no Ultimate Beneficial Owner (UBO) is identified at this level; establishing one would require tracing the ownership of each shareholding company in turn.
How many shareholders does Seplat Energy Plc have on record?
4 shareholders are shown on record for Seplat Energy Plc.
Is Seplat Energy Plc still an active company?
Seplat Energy Plc's status on Corporate Affairs Commission (CAC) is listed as active.
What is Seplat Energy Plc's registered address?
The registered address on file for Seplat Energy Plc is Lagos, Nigeria.
Who are the officers/directors of Seplat Energy Plc?
The Ceo & Executive Director of Seplat Energy Plc currently on record is Roger Thompson Brown; seven officers are currently on record for Seplat Energy Plc, filed with Corporate Affairs Commission (CAC). Management authority at Seplat Energy Plc sits with these individuals, not with shareholders, who are covered separately and hold ownership rather than control.
Can Zavia monitor changes to Seplat Energy Plc's ownership over time?
This profile reflects a point-in-time snapshot from Corporate Affairs Commission (CAC). Zavia's monitoring API can track changes to Seplat Energy Plc's registered shareholders, officers, and group structure going forward, flagging updates as they're filed rather than requiring a manual recheck.
Can I access Seplat Energy Plc's data through an API?
Yes. Zavia's API connects directly to official government ownership registries across 195 countries and territories, including Nigeria, so records like Seplat Energy Plc's registration, shareholder, UBO, and group-structure data can be queried programmatically instead of viewed one page at a time.
Where does this company information come from, and how current is it?
This record is sourced directly from Corporate Affairs Commission (CAC) and was last synced on 13 August 2026.