19th May 2022 18:18
Seplat Energy PLC - Lagos-based energy company focused on Nigeria - Appoints Basil Omiyi as non-executive chair with immediate effect, following internal and external search processes.
Omiyi has been part of Seplat since 2013, and became senior independent non-executive director in February 2021.
He is currently chair of Stanbic IBTC Holdings, part of Standard Bank Group Ltd for seven years since 2015.
"Basil Omiyi has been a leading figure in the Nigerian oil and gas sector and also with Seplat Energy, having joined its board in 2013 and helped it to achieve a dual listing in April 2014. The vast depth of experience and his detailed knowledge of Seplat Energy will be invaluable as we continue to evolve and mature the company," said Chief Executive Officer Roger Brown.
Also on Thursday, confirms that the Federal Government of Nigeria has declined to give its consent to the acquisition of Mobil Producing Nigeria Unlimited.
In February, Seplat agreed to acquire Mobil Producing from Exxon Mobil Corp for USD1.28 billion. The acquisition encompasses the entire offshore shallow water business of ExxonMobil in Nigeria.
"Seplat Energy is confident that the process to obtain all approvals on the acquisition of MPNU's entire share capital is being followed and will be achieved," the company stated.
Current stock price: 118.00 pence, down 7.5% on Thursday
12-month change: up 22%
By Dayo Laniyan; [email protected]
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