Heirs Energies Acquires 20.07% Equity Stake in Seplat Energy in $500m Landmark Deal
By Naija Enquirer Staff
Heirs Energies has acquired the entire 20.07% equity stake previously held by Maurel & Prom S.A. in Seplat Energy Plc, in a transaction valued at approximately $500 million.
The deal involved the purchase of 120.4 million ordinary shares at a price of 305 pence per share, marking a significant milestone in Heirs Energies’ long-term strategy to deepen indigenous participation in Nigeria’s strategic energy assets.
The acquisition underscores Heirs Energies’ commitment to accelerating sustainable energy development, strengthening energy security, and promoting African ownership across the oil and gas value chain.
Commenting on the transaction, Chairman of Heirs Energies, Tony Elumelu, described the move as a vote of confidence in Africa’s capacity to responsibly manage its natural resources.
“This acquisition reflects our strong belief in Africa’s ability to own, develop, and responsibly manage its strategic resources. It is a long-term investment in Nigeria’s and Africa’s energy future and aligns with our mission to drive energy security, industrialisation, and shared prosperity,” Elumelu said.
He added that Seplat Energy has built a resilient and well-governed platform with compelling long-term prospects, noting that Heirs Energies is pleased to support the company’s continued growth and value creation.
The landmark transaction was supported by two leading African financial institutions—Afreximbank and the Africa Finance Corporation (AFC)—highlighting the growing capacity of African institutions to finance large-scale energy deals.
Heirs Energies has established itself as a leader in brownfield operations, successfully addressing longstanding challenges associated with onshore oil production in Nigeria and playing a key role in restoring safe and reliable operations in the Niger Delta.
The company is also a major gas producer supplying Nigeria’s domestic gas market, providing fuel for more than 400 megawatts of electricity generation that powers millions of homes, businesses, and industrial facilities.
Seplat Energy Plc is a Nigerian independent energy company focused on oil and gas exploration, production, and gas processing in the Niger Delta. The company is listed on both the Nigerian Exchange and the London Stock Exchange and remains a central player in Nigeria’s energy transition efforts.