Heirs Energies, a leading integrated energy company in Sub Saharan Africa (SSA), has acquired the entire 20.07% equity (120.4 million ordinary shares) previously held by Maurel & Prom S.A. in Seplat Energy Plc (Seplat Energy) at a price of GBP3.05 pence per share, with the transaction totalling USD500 million.
With the acquisition, Heirs Energies has now become the largest shareholder in Seplat Energy as part of its long-term strategy to accelerate sustainable energy development and security for Nigeria and Africa.
Speaking on the deal, Chairman of Heirs Energies, Mr. Tony Elumelu, said: “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, industrialization, and shared prosperity.
“Seplat Energy has built a resilient, well-governed platform with compelling long term prospects, and we are pleased to support its continued growth and value creation for all stakeholders”, the industrialist added.
- Advertisement -
The acquisition transaction is supported by both the Afreximbank and Africa Finance Corporation (AFC).
As an emerging top player in the Nigerian upstream sector, Heirs Energies is operates OML 17 in the Niger Delta, producing over 50 thousand barrels of oil per day and 120 million cubic feet of gas per day (120 mmcfd), with reserves base of over 1.5 billion barrels of oil (MMBo) and 2.5 trillion cubic feet of gas (Tcf).
Similarly, Seplat Energy Plc is a Nigerian independent energy company and it is listed on both the Nigerian Exchange (NGX) and the London Stock Exchange (LSE). As of the end of December 2024 Seplat Energy had 2P reserves of 1.043 billion barrels of oil equivalent (MMBoe) and working interest production 135.6 kboepd as at 31 October 2025.
