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Seplat plans to invest more in oil and gas

He said the firm would keep sustaining and managing its bottom line in such a way that we remain profitable in the interest of all stakeholders, particularly our shareholders.


Devdiscourse News Desk 13 Jul 2018, 07:48 AM Nigeria
Seplat plans to invest more in oil and gas
  • Avuru also stated that “We have also optimized our capital structure. Following this rearrangement in our capital structure, we have headroom to invest more money in the ground. (Image Credit: Twitter)

Seplat Petroleum Development Company Plc, an indigenous independent oil, and the gas firm have stated that it has improved its capital fabrication to enable it to input more and keep sustain to pursue its development opportunities.

The Chief Executive Officer, Seplat, Mr Austin Avuru, who said this at the firm's 'Facts behind the Figures' demonstrated at the Nigerian Stock Exchange, disclosed that the company was aiming opportunities to obtain more assets.

Avuru stated that "For us, almost everything we do, both in terms of emphasizing our corporate governance structure and culture, and how we manage our assets and plan our work programme and budgets, is all about being a company that will consistently deliver natural gas into the domestic market and crude oil for exports."

He said the firm would keep sustaining and managing its bottom line in such a way that "we remain profitable in the interest of all stakeholders, particularly our shareholders."

Avuru also stated that "We have also optimized our capital structure. Following this rearrangement in our capital structure, we have headroom to invest more money in the ground. Going forward, between now and 2019 and beyond, we are going to be spending more money. So, we are upscaling our work programme to spend more money. We will, of course, continue to pursue our growth opportunities, which will be a combination of organic growth through our capital spend in drilling and appraisal and development wells, and also for any opportunities for acquisition."