Seplat Targeting Gas To Offset Effects Of Low Oil Prices – Chairman

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Seplat Petroleum Development Company Plc is focusing on growing its gas business to boost performance and moderate the impact of flagging crude oil production and falling revenue, The Nation reports.

At a media interactive session after the annual general meeting yesterday in Lagos, chairman, Seplat Petroleum Development Company Plc, Dr. Ambrosie Orjiako, told shareholders that the company has stepped up investments in its gas production business to mitigate the adverse effect of the decline in the price of crude oil in the international market.

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According to him, the company had in mid-year 2015 successfully completed and commissioned its Oben gas plant phase I expansion, which saw the company’s overall gross processing capacity double to 300 MMscfd. He said the Oben gas plant phase II expansion is underway with additional processing modules ordered noting that once installed, the additional processing modules will take gross processing capacity to an expected minimum level of 525 MMscfd.

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