December 16, 2017

Nigeria could boost oil output with changed funding, Seplat says

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CAPE TOWN, South Africa (Bloomberg) — Nigeria can boost its oil and gas production by changing the way capital investments are funded in its joint ventures with energy companies, according to Seplat Petroleum Development Co. State-owned Nigerian National Petroleum Corp., or NNPC, holds an average 55% stake in five joint ventures with Royal Dutch Shell Plc, Exxon Mobil Corp., Chevron Corp., Total SA and Eni SpA that pump more than 80% of the country’s crude. It pays the same share of capital contributions for the operation of the oil ventures. Seplat, a Nigerian producer now running a joint venture with…

Nigeria Could Boost Oil Output With Changed Funding, Seplat Says – Bloomberg Business

Gas pipes are pictured at Oparivske gas underground storage in Lviv region

Nigeria can boost its oil and gas production by changing the way capital investments are funded in its joint ventures with energy companies, according to Seplat Petroleum Development Co. State-owned Nigerian National Petroleum Corp., or NNPC, holds an average 55 percent stake in five joint ventures with Royal Dutch Shell Plc, Exxon Mobil Corp., Chevron Corp., Total SA and Eni SpA that pump more than 80 percent of the country’s crude. It pays the same share of capital contributions for the operation of the oil ventures. Seplat, a Nigerian producer now running a joint venture with NNPC after buying assets…

FBN Capital Secures $1.4 Billion Facility for Seplat | The Guardian Nigeria

Seplat

FBN Capital has revealed details of the $1.4 billion secured term loan and accordion facilities it obtained for #seplat Petroleum Development Company from a consortium of 5 Nigerian banks. The facility which closed in January, includes a new US$700 million seven year secured term facility which includes an option to upsize the facility by up to an additional US$700 million for qualifying acquisition opportunities. The new facility, along with a new US$300 million three year secured revolving credit facility provided concurrently by international banks, refinanced Seplat’s existing debt portfolio to ensure a robust capital structure and strategically position the Company…

Alison-Madueke Pledges aggressive implementation of Gas-to-Power Initiatives

AzuraWA

NPDC/Seplat JV Invest over $200m on Azura-Edo IPP Gas Infrastructure The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has committed to an aggressive and robust implementation of the various initiatives designed to accelerate the provision of adequate gas supply for power generation in line with the Federal Government’s aspiration for the power sector. The Minister who recently announced the N213bn inter-agency initiative to facilitate the liquidation of legacy gas debts in the power sector stated that the Nigerian National Petroleum Corporation alongside its Joint Venture Partners are determined to surpass its mandate of providing the required fuel gas as well…