AfriPulse
Heirs Energies Limited has acquired 20.07 per cent stake in Seplat Energy Plc for approximately $500 million.
The stake was previously held by French firm Maurel & Prom.
This acquisition marks one of Nigeria’s largest energy sector transactions this year and strengthening indigenous ownership of the country’s strategic oil and gas assets.
The deal, which values Seplat shares at 3.05 pence each, involves the transfer of 120.4 million ordinary shares and represents a significant consolidation of Nigerian ownership in the country’s energy sector.
Heirs Energies, controlled by billionaire businessman Tony Elumelu in a notice on Tuesday said the acquisition aligns with its strategy to increase indigenous participation in strategic energy assets across Africa.
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The deal was financed with support from two pan-African lenders, the African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC).
“This acquisition reflects our strong belief in Africa’s ability to own, develop, and responsibly manage its strategic resources,” Elumelu, who serves as chairman of Heirs Energies, said in a statement.
“It is a long-term investment in Nigeria’s and Africa’s energy future.”
The acquisition positions Heirs Energies as a significant shareholder in Seplat, one of Nigeria’s largest independent oil and gas producers with 2P reserves of 1.043 billion barrels of oil equivalent as of December 2024 and working interest production of 135.6 thousand barrels of oil equivalent per day as of October 2025.
Paris-based Maurel & Prom, which focuses on African oil and gas exploration and production, had held the stake for several years.
The transaction is expected to close following regulatory approvals from Nigerian authorities, including the Securities and Exchange Commission and other relevant bodies.
By: Babajide Okeowo
Source: RipplesNigeria | Read the Full Story…
