Owing to some technical delays, Seplat Energy Plc, said it has shifted its schedule of first gas from the $700m ANOH Gas Processing Plant located on (Oil Mining Lease) OML 53 in Imo State to fourth quarter 2023.

ANOH is one of Nigeria’s most strategic gas plant earlier scheduled to pump its first gas in the first half of 2023. Seplat, in a statement on its performance in the 2022 financial year, said that ANOH gas processing plant is now 95 per cent mechanically completed, awaiting third-party infrastructure completion.
“ANOH first gas guidance moved to fourth quarter 2023 owing to delays in third-party infrastructure,” it stated.
Meanwhile, the company said that it will continue to pursue the Presidential approval received on August 8, 2022 for the Mobil Producing Nigeria Unlimited (MPNU) acquisition with hopes to conclude the transaction within the remaining term of President Muhammadu Buhari before a new president is sworn into office at the end of May 2023.
It also stated that the Sibiri appraisal well is indicating results on high side of initial Oil In-Place estimates, adding that Final Investment Decision (FID) is targeted by end 2023.

On the financial gains, Seplat recorded a rise in profit before tax by 15.3 per cent to N86.7b from N71b year-on-year. The company also generated cash from its operations to the tune of N242.4b from N150.9b year-on-year, rising by 51.6 per cent.

The energy company also grew its revenue by 29.8 per cent to N403.9b from N293.6b year-on-year; as its gross profit soars to N197.2b from N114.2b year-on-year, rising by 63 per cent.

Commenting on the results, Chief Executive Officer, Seplat Energy Plc, Roger Brown, said: “I am delighted that our strong financial performance will enable the payment of a US7.5 cent final dividend, despite the significantly disrupted production we experienced in the second half of the year. The full-year dividend of US15 cents represents a dividend yield of around 11 per cent at the current LSE share price.

“As we enter 2023, the business is in a very healthy state, with new wells coming onstream, encouraging appraisal drilling underway at Sibiri, and alternative export routes ensuring good export performance in January and February this year.

“Our gas business continues to develop, with first gas expected from ANOH in Q4 this year, and we are now in the process of separating our Midstream Gas business from the Upstream unit to unlock new value for shareholders.

“We are implementing our roadmap to net zero and have made encouraging progress with a 35 per cent reduction in emission intensity last year. The major reduction in carbon emissions is routine flaring which we are on target to eliminate by the end of 2024.

“Alongside these efforts, and as part of our stated strategy to become Nigeria’s energy champion across the entire value chain, we are planning to invest in gas-to-power and solar power projects with FID targeted for later this year if the projected returns meet our internal hurdle rates.

“We are confident in our outlook for 2023, with the new Amukpe-Escravos Pipeline working well, our drilling cost reductions and efficiencies being delivered, and ANOH’s first gas expected in Q4 once third party infrastructure is completed, our business is on a firm footing to facilitate significant growth and higher returns for stakeholders,” he stated.
https://guardian.ng/business-services/seplat-shifts-schedule-of-first-gas-from-700m-anoh-plant/

What is ABC Orjiakor's position at Seplat right now?

post=122440223:
Owing to some technical delays, Seplat Energy Plc, said it has shifted its schedule of first gas from the $700m ANOH Gas Processing Plant located on (Oil Mining Lease) OML 53 in Imo State to fourth quarter 2023.

ANOH is one of Nigeria’s most strategic gas plant earlier scheduled to pump its first gas in the first half of 2023. Seplat, in a statement on its performance in the 2022 financial year, said that ANOH gas processing plant is now 95 per cent mechanically completed, awaiting third-party infrastructure completion.
“ANOH first gas guidance moved to fourth quarter 2023 owing to delays in third-party infrastructure,” it stated.
Meanwhile, the company said that it will continue to pursue the Presidential approval received on August 8, 2022 for the Mobil Producing Nigeria Unlimited (MPNU) acquisition with hopes to conclude the transaction within the remaining term of President Muhammadu Buhari before a new president is sworn into office at the end of May 2023.
It also stated that the Sibiri appraisal well is indicating results on high side of initial Oil In-Place estimates, adding that Final Investment Decision (FID) is targeted by end 2023.

On the financial gains, Seplat recorded a rise in profit before tax by 15.3 per cent to N86.7b from N71b year-on-year. The company also generated cash from its operations to the tune of N242.4b from N150.9b year-on-year, rising by 51.6 per cent.

The energy company also grew its revenue by 29.8 per cent to N403.9b from N293.6b year-on-year; as its gross profit soars to N197.2b from N114.2b year-on-year, rising by 63 per cent.

Commenting on the results, Chief Executive Officer, Seplat Energy Plc, Roger Brown, said: “I am delighted that our strong financial performance will enable the payment of a US7.5 cent final dividend, despite the significantly disrupted production we experienced in the second half of the year. The full-year dividend of US15 cents represents a dividend yield of around 11 per cent at the current LSE share price.

“As we enter 2023, the business is in a very healthy state, with new wells coming onstream, encouraging appraisal drilling underway at Sibiri, and alternative export routes ensuring good export performance in January and February this year.

“Our gas business continues to develop, with first gas expected from ANOH in Q4 this year, and we are now in the process of separating our Midstream Gas business from the Upstream unit to unlock new value for shareholders.

“We are implementing our roadmap to net zero and have made encouraging progress with a 35 per cent reduction in emission intensity last year. The major reduction in carbon emissions is routine flaring which we are on target to eliminate by the end of 2024.

“Alongside these efforts, and as part of our stated strategy to become Nigeria’s energy champion across the entire value chain, we are planning to invest in gas-to-power and solar power projects with FID targeted for later this year if the projected returns meet our internal hurdle rates.

“We are confident in our outlook for 2023, with the new Amukpe-Escravos Pipeline working well, our drilling cost reductions and efficiencies being delivered, and ANOH’s first gas expected in Q4 once third party infrastructure is completed, our business is on a firm footing to facilitate significant growth and higher returns for stakeholders,” he stated.
https://guardian.ng/business-services/seplat-shifts-schedule-of-first-gas-from-700m-anoh-plant/

Ok we move

God bless Imo state

Tax generated here will be used to develop Imo state and our youths will be employed .

I hope that company belongs to an Igbo man o, not like my Niger Deltan brothers that are allowing outsiders to rape them.

The eastern economy is 99% eastern driven , the money made in the east will drive other industries in the east like housing, food etc my issues is that unlike before agriculture , cement manufacturing, petroleum refinery and even power generation is no longer gettthe right traction.

If this gas is something we have so much in abundance then automobiles ought to be gas driven , with has powered industrial estates around the gas sites

Imo state has one of the highest gas reserves in the world

It is time to bring massive development to Imo state

Good development

BloomingDale:
I hope that company belongs to an Igbo man o, not like my foolish Niger Deltan brothers.

Revenue generated here will be used to develop Imo state

LagosFirstSon:

Revenue generated here will be used to develop Imo state

I thought gas belongs to the federal government? Now I’m confused.

Any idea how revenue from gas produced at this plant is shared and what comes to Imo state coffers?

BloomingDale:


I thought gas belongs to the federal government? Now I’m confused.

There is a percentage that will be given to Imo state on this project

Ok

kettykin:
The eastern economy is 99% eastern driven , the money made in the east will drive other industries in the east like housing, food etc my issues is that unlike before agriculture , cement manufacturing, petroleum refinery and even power generation is no longer gettthe right traction.

If this gas is something we have so much in abundance then automobiles ought to be gas driven , with has powered industrial estates around the gas sites

First and foremost, you are contradicting yourself by advocating that your people bring home the money made in other parts of Nigeria then saying now that the money is 99% made in Igboland.

If money is truly made there you will not find Igbo fleeing daily in droves to other parts of Nigeria for greener pastures and menial jobs like hawking and even begging.

Also, Seplat is a publicly quoted company with headquarters in Ikoyi, Lagos state. When profits from this project come in, it will be paid in part to Imo, Lagos and FG while the rest is shared as dividends to all Nigerians. There are still some key lessons you miss on how real wealth is domiciled

LagosFirstSon:

There is a percentage that will be given to Imo state on this project

How much is the %?

Awa Oyel and GaZs

Good development.

BloomingDale:


Same Lagos screaming go back to your region. They should move their headquarters to Imo state, so Lagos don’t get a penny.

They are an international company and they are leveraging on the clout Lagos and its forebears have built even before Seplat came to life.

Those being told straight to leave Lagos are those who hate their Yoruba hosts and it is to deliver them from unfruitfulness; if you hate your host their land will not bless you.
Seplat is owned by people of different nationalities now and moving its hq to Imo state is even an insult to its brand.

With electricity generation, transmission and distribution now devolved, Imo state government have no excuse not to tap into this project for steady power supply.

The future is bright for Imo State, the gas capital of Nigeria!

BloomingDale:


Same Lagos screaming go back to your region. They should move the headquarters to Imo state, so Lagos don’t get a penny.

You're from the SS right? Then fight for your people and their interests because lately you seem to be confused and working yourself up over what is not your business.

You have mentioned this "Lagos screaming go back to your region" issue several times but you need to look within yourself and tell us when this has ever applied to anyone other than Igbos who deliberately take it upon themselves to fight, demean and alienate their host with divisive antics knowing such behaviour will only gain negative responses alone.

Have you ever screamed "Yoruba Moslem" to divide Yorubas as Igbos love doing? If not, why are you so bothered about the reaction such repellent behaviour from Igbos is gaining today from the Yorubas?

Are we Yorubas alone in our behaviour or have Ghanaians, South Africans, Indians, Indonesians, Kenyans, Zimbabweans etal , after far less provocation, not dished out worse to Igbos?

If in Ghana on holiday or for work/business in future then begin beefing Ghanaians, as you seem obsessed to do against Yorubas, for bouncing Igbos from their market rather than jejeli enjoying yourself safe in the knowledge that Igbos alone should deal with whatever repercussion arises from their covetous arrogance, disrespect and hate towards other in their own land.

No Yoruba has any problem with SS, Middle belt or even Northerners today and currently. We have no problem with them living with us in the SW.

Our problem is with Igbos and how they wish to drag with us in our land as if they can defeat us.. This is because, fundamentally, Igbos want to dominate everyone everywhere.

They do not and will never respect boundaries as other Nigerians, including SS folks, do. In Yorubas they have met their match and even superior.

The quickest way to be unfortunate in life is to carry another man's wahala on your own head rather than let them answer for their misdeeds alone.

Show me where Yorubas have ever threatened SS folks to justify your stance today. Also, prove how just and fair-minded you are as a person if you cannot see Igbo wrongdoing and the consequent negative reaction such gains worldwide today.

FreeStuffsNG:

First and foremost, you are contradicting yourself by advocating that your people bring home the money made in other parts of Nigeria then saying now that the money is made in Igboland.
If money is truly made there you will not find Igbo fleeing daily in droves to other parts of Nigeria for greener pastures.

Also, Seplat is a publicly quoted company with headquarters in Ikoyi, Lagos state. When profits from this project come in, it will be paid in part to Imo, Lagos and FG while the rest is shared as dividends to all Nigerians. There are still some key lessons you miss on how real wealth is domiciled

To bring the seplat HQ to the east and turn the sprawling Lagos office to a regional office will not take more than 2 board sittings , but first the relocate to the east campaign has to reach a traction, the gas fields of the east has to well lit and the infrastructure for a super head office in Enugu or Owerri or PH has to be in place.

kettykin:


To bring the seplat HQ to the east and turn the Lagos office to a regional office will not take more than 2 board sittings , but first the relocate to the east campaign has to reach a traction, the gas fields of the east has to well lit and the infrastructure for a super head office in Enugu or Owerri or PH has to be in place.

By the time this happens , reverse migration which has already started will blow out into full force with real estate, construction, furniture, etc business bursting in some parts of the country and booming in another part

It is obvious you do not know Seplat. I am done with you sir

Dsalvo:


You're from the SS right? Then fight for your people and their interests because lately you seem to be confused and working yourself up over what is not your business.

You have mentioned this "Lagos screaming go back to your region" issue several times but you need to look within yourself and tell us when this has ever applied to anyone other than Igbos who deliberately take it upon themselves to fight, demean and alienate their host with divisive antics knowing such behaviour will only gain negative responses alone.

Have you ever screamed "Yoruba Moslem" to divide Yorubas as Igbos love doing? If not, why are you so bothered about the reaction such repellent behaviour from Igbos is gaining today from the Yorubas?

Are we Yorubas alone in our behaviour or have Ghanaians, South Africans, Jndians etal , after far less provocation, not dished out worse to Igbos?

If in Ghana on holiday or for work/business in future then begin beefing Ghanaians, as you seem obsessed to do against Yorubas, for bouncing Igbos from their market rather than jejeli enjoying yourself safe in the knowledge that Igbos alone should deal with whatever repercussion arises from their disrespect and hate towards other in their own land.

No Yoruba has any problem with SS, Middle belt or even Northerners today and currently living with us in the SW.

Our problem is with Igbos and how they wish to drag with us in our land as if they can defeat us.. This is because, fundamentally, Igbos want to dominate everyone everywhere. They do not and will never respect boundaries as other Nigerians, including SS folks, do. In Yorubas they have met their match and ever superior.

The quickest way to be unfortunate in life is to carry another man's wahala on your own head rather than let them answer for their misdeeds alone.

Show me where Yorubas have ever threatened SS folks to justify your stance today. Also, prove how just you are as a person if you cannot see Igbo wrongdoing and the consequent negative reaction such gains worldwide .g

Ok, you are right. Some or most of my my write ups are not meant to be taken seriously and this is one of them. This is social media where people might not understand my intent. I will try to be more circumspect so I don’t heat up the polity further.

FreeStuffsNG:
It is obvious you do not know Seplat. I am done with you sir

Ok thanks

kettykin:
The eastern economy is 99% eastern driven , the money made in the east will drive other industries in the east like housing, food etc my issues is that unlike before agriculture , cement manufacturing, petroleum refinery and even power generation is no longer gettthe right traction.

If this gas is something we have so much in abundance then automobiles ought to be gas driven , with has powered industrial estates around the gas sites

The good things counting for SE are:

1. Capital retention: Other regions of Nigeria experience high level of capital flight unlike SE where most companies are home-grown.

2. Rapid urbanization: the cities and towns in SE are growing rapidly due to rural-urban migration as well as relatively high population of educated people.

3. Commercial activities: due to large markets in the SE, the people are able to draw in cash from both within and outside Nigeria. Being able to accumulate cash makes it easier for them to engage in big projects.

If only government can provide adequate infrastructure and security, the region will return to its 1960's level when it was among the world's fastest growing economies.

FreeStuffsNG:

First and foremost, you are contradicting yourself by advocating that your people bring home the money made in other parts of Nigeria then saying now that the money is made in Igboland.
If money is truly made there you will not find Igbo fleeing daily in droves to other parts of Nigeria for greener pastures.

Also, Seplat is a publicly quoted company with headquarters in Ikoyi, Lagos state. When profits from this project come in, it will be paid in part to Imo, Lagos and FG while the rest is shared as dividends to all Nigerians. There are still some key lessons you miss on how real wealth is domiciled

The gas is in imo, that's the most important thing. Real wealth is not headquarters that can be moved in a second. Also, wealth domiciled in Lagos is not necessarily yoruba wealth

FreeStuffsNG:

They are an international company and they are leveraging on the clout Lagos and its forebears have built even before Seplat came to life.

Those being told straight to leave Lagos are those who hate their Yoruba hosts and it is to deliver them from unfruitfulness; if you hate your host their land will not bless you.
Seplat is owned by people of different nationalities now and moving its hq to Imo state is even an insult to its brand.

Guy stop crying

Dsalvo:


You're from the SS right? Then fight for your people and their interests because lately you seem to be confused and working yourself up over what is not your business.

You have mentioned this "Lagos screaming go back to your region" issue several times but you need to look within yourself and tell us when this has ever applied to anyone other than Igbos who deliberately take it upon themselves to fight, demean and alienate their host with divisive antics knowing such behaviour will only gain negative responses alone.

Have you ever screamed "Yoruba Moslem" to divide Yorubas as Igbos love doing? If not, why are you so bothered about the reaction such repellent behaviour from Igbos is gaining today from the Yorubas?

Are we Yorubas alone in our behaviour or have Ghanaians, South Africans, Indians, Indonesians, Kenyans, Zimbabweans etal , after far less provocation, not dished out worse to Igbos?

If in Ghana on holiday or for work/business in future then begin beefing Ghanaians, as you seem obsessed to do against Yorubas, for bouncing Igbos from their market rather than jejeli enjoying yourself safe in the knowledge that Igbos alone should deal with whatever repercussion arises from their covetous arrogance, disrespect and hate towards other in their own land.

No Yoruba has any problem with SS, Middle belt or even Northerners today and currently. We have no problem with them living with us in the SW.

Our problem is with Igbos and how they wish to drag with us in our land as if they can defeat us.. This is because, fundamentally, Igbos want to dominate everyone everywhere.

They do not and will never respect boundaries as other Nigerians, including SS folks, do. In Yorubas they have met their match and even superior.

The quickest way to be unfortunate in life is to carry another man's wahala on your own head rather than let them answer for their misdeeds alone.

Show me where Yorubas have ever threatened SS folks to justify your stance today. Also, prove how just and fair-minded you are as a person if you cannot see Igbo wrongdoing and the consequent negative reaction such gains worldwide today.

Igbo this Igbo that many of you are being jealous instead of you to work hard it's always Igbo.
Igbos are not respecting their host how?

Dsalvo:


You're from the SS right? Then fight for your people and their interests because lately you seem to be confused and working yourself up over what is not your business.

You have mentioned this "Lagos screaming go back to your region" issue several times but you need to look within yourself and tell us when this has ever applied to anyone other than Igbos who deliberately take it upon themselves to fight, demean and alienate their host with divisive antics knowing such behaviour will only gain negative responses alone.

Have you ever screamed "Yoruba Moslem" to divide Yorubas as Igbos love doing? If not, why are you so bothered about the reaction such repellent behaviour from Igbos is gaining today from the Yorubas?

Are we Yorubas alone in our behaviour or have Ghanaians, South Africans, Indians, Indonesians, Kenyans, Zimbabweans etal , after far less provocation, not dished out worse to Igbos?

If in Ghana on holiday or for work/business in future then begin beefing Ghanaians, as you seem obsessed to do against Yorubas, for bouncing Igbos from their market rather than jejeli enjoying yourself safe in the knowledge that Igbos alone should deal with whatever repercussion arises from their covetous arrogance, disrespect and hate towards other in their own land.

No Yoruba has any problem with SS, Middle belt or even Northerners today and currently. We have no problem with them living with us in the SW.

Our problem is with Igbos and how they wish to drag with us in our land as if they can defeat us.. This is because, fundamentally, Igbos want to dominate everyone everywhere.

They do not and will never respect boundaries as other Nigerians, including SS folks, do. In Yorubas they have met their match and even superior.

The quickest way to be unfortunate in life is to carry another man's wahala on your own head rather than let them answer for their misdeeds alone.

Show me where Yorubas have ever threatened SS folks to justify your stance today. Also, prove how just and fair-minded you are as a person if you cannot see Igbo wrongdoing and the consequent negative reaction such gains worldwide today.

Rubbish, you hate competition and I pity your future generations. Forcing yourself on the politics at the center won't save you as the center continue to devolve power to the federating units