Nigeria’s leading indigenous oil player, Seplat Energy Plc, says it has completed the installation of a new inlet gas exchanger (IGE) module on its offshore East Area Project (EAP) platform located in OML 67.
Seplat disclosed this in a filing with the Nigerian Exchange Limited on Tuesday.
The company stated that the IGE module—the first main capital project for its offshore operations this year—is an integral part of the Natural Gas Liquid (NGL) extraction process. It said the project was completed within budget, although the cost was not disclosed.
The project involved load-out, lifting, installation, tie-in, commissioning, and start-up activities. It lasted for more than six weeks and was concluded in November.
“We are pleased to have completed the first major capital project on our offshore operations on budget,” said Roger Brown, Seplat’s chief executive.
“Replacement of the IGE unit on our EAP platform builds on the success of our idle well recovery programme as part of near-term production growth catalysts on the offshore assets that we acquired in December 2024.”
Last year, Seplat acquired ExxonMobil’s onshore and shallow water assets for $1.28bn. Since then, it has invested hundreds of millions of dollars into reviving idle wells and tripling its crude oil output.
The company said the new IGE unit is critical to efficient NGL processing operations and boosts domestic supplies of cooking gas.
Its Q3 offshore production recorded a quarterly drop of 2.5% to 81,669 boe/d due to planned downtime on EAP for the IGE replacement project, as well as lower output from A/K.
“NGLs, particularly pentane, represent some of the highest margin barrels produced in our portfolio. The butane we produce is being sold directly into the domestic market, improving energy access and supporting a drive towards clean cooking solutions for Nigeria.”
Seplat said that since the EAP complex was restarted, the facility has been performing in line with expectations.
Following the upgrade, Seplat reported that gross NGL sales volumes in late November at EAP more than doubled to about 6,850 b/d (~3,500 b/d net working interest), compared with figures recorded in the nine months ended September 30.
It added that sales volumes are expected to rise to 11,000 b/d (~5,700 b/d net working interest) over the coming months as further upgrades bring the facility to target efficiency levels.
In November, Seplat also completed a reliability test on phase one of the 300 mmcf/d Anoh gas project in Imo State, which it jointly develops with NNPC Limited. The company hopes to bring the $420m facility online before 2026.
The project will deliver dry gas, condensate, and LPG to both domestic and export markets, and the offtake agreement has already been finalised with Nigerian Gas Marketing Company.