The company said ANOH had faced challenges in the “security situation, poor weather, and contractor performance”.
The Depthwize drilling rig, Majestic, was in transit to a drilling site at Ovhor in Delta State when it capsized.
The suit was filed on April 6, the newspaper said. Brown is continuing to act as CEO despite having his immigration status revoked, the case complains.
However, in legal papers filed at the Federal High Court in Abuja it has accused the former chairman of making an offer worth $300 million to the Minister of State for Petroleum Resources. The alleged letter was dated December 22, 2022.
The court based its order on allegations around various actions taken by Brown. He organised a site visit for shareholders, cancelled some landscape and catering contracts and introduced a new job performance rating.
The company said media reports had been “clearly calculated to spread false information”. Seplat will work with the ministry to tackle the allegations, it said.
Tinubu won 36% of the votes cast, securing support from 12 of the 36 states. He received 8.79 million votes on Saturday, while Buhari – in 2019 – pulled in 15.19mn.
Last year, theft on the Nembe Creek Trunk Line (NCTL) and Trans Niger Pipeline ranged from 30% to 90%.
Nigeria is currently producing 1.45 million barrels per day, with plans to scale this up to 1.8mn bpd by the end of November.
Seplat Energy has recorded a strong increase in financial metrics, even while the company struggled to export production in the face of pipeline interruptions.
Seplat Energy has invited companies to tender for pipeline works at its OML 53 asset as it aims to boost oil production.
One of Nigeria’s largest independent oil and gas producers spent more than $450 million on goods and services provided by companies linked to its two founders over 12 years, most of it after the firm publicly listed in London and Lagos in 2014.
Nigerian President Muhammadu Buhari has reversed his support for Seplat Energy to acquire ExxonMobil’s local joint venture, in apparent recognition of the regulator’s objections.
Seplat Energy said it has begun commercial injection of crude oil through the Amukpe-Escravos pipeline.
Seplat Energy has boost profits among higher production, with the company staying confident on its planned purchase of ExxonMobil’s local Nigerian unit.
Nigerian National Petroleum Corp. (NNPC) launched a legal case against ExxonMobil and Seplat Energy over the proposed sale.
Seplat Energy has appointed Basil Omiyi to takeover as non-executive chairman, while questions are asked once more over the company’s deal for ExxonMobil’s local assets.
The events of the past two years have accelerated mergers & acquisitions trends in Africa, and 2022 is already witnessing increased deals activity.
Seplat Energy has reported some slow progress at pipeline projects, but with EBITDA growing at 82% year on year it is seeing a clear benefit from higher oil prices.
High energy prices have revived interest in Africa’s oil and gas, but financing remains painfully hard to secure, amid ESG uncertainty.
Seplat Energy saw production drop in 2021 but, with the expectation that a new export route will open in March, expects better things ahead.
London-listed Seplat Energy has announced a deal to acquire ExxonMobil’s Nigerian unit.
Nigerian Gas Co. (NGC) and Nedogas Development have commissioned a gas gathering facility in Delta State to supply the OB3 trunk line.
Former Seplat Energy executive Austin Avuru appears to be clashing with his old company in the pursuit of ExxonMobil’s mature onshore Nigerian assets.
Seplat Energy has confirmed it is engaged in talks on acquiring ExxonMobil’s shallow water business in Nigeria.