Seplat Energy restored 24 previously inactive oil wells across its offshore assets during the first half of 2026, increasing gross production capacity by 26,000 barrels per day (bpd) as it continued efforts to maximise output from existing fields.
According to the company’s unaudited financial results for the six months ended June 30, 2026, the restoration programme returned nine wells to production in the first quarter, contributing about 10,000 bpd in gross capacity. A further 15 wells were revived in the second quarter, adding another 16,000 bpd gross, equivalent to about 6,400 bpd on a working-interest basis.
The restored wells are located in Seplat’s OMLs 67, 68, 70 and 104, where the company holds a 40 per cent working interest.
Production from these offshore blocks averaged 65,028 bpd of crude oil and condensate in the second quarter, representing a five per cent increase from the first quarter’s average of 61,903 bpd. The company attributed the improvement to the well restoration programme and other production optimisation measures that enhanced facility performance.
Despite the quarter-on-quarter improvement, overall first-half production remained below the corresponding period of 2025. Working-interest crude and condensate output averaged 63,474 bpd during the six-month period, down four per cent from 67,911 bpd recorded a year earlier. Seplat said the decline largely reflected the impact of an outage at the Yoho field.
Output from the non-operated Amenam-Kpono field, where Seplat owns a 9.6 per cent stake, also improved during the second quarter. Production rose to 694 bpd from 533 bpd in the first quarter, contributing to total crude and condensate production of 65,722 bpd for the quarter.
Natural gas liquids (NGL) production, however, declined during the second quarter after damage to the Oso-BRT subsea gas pipeline disrupted operations. Working-interest NGL output fell 27 per cent quarter-on-quarter to 7,131 bpd following the incident, which temporarily halted gas production at Oso and suspended processing activities at the BRT facility.
The company said repairs to the damaged pipeline are ongoing and expressed confidence that normal operations will resume during the third quarter. Even with the disruption, first-half NGL production increased significantly to 8,459 bpd, compared with 3,772 bpd in the same period of 2025.
Seplat said restoring idle wells remains a key part of its strategy to increase production through existing assets rather than relying solely on new drilling projects. The company noted that the programme remained on schedule, with all 24 targeted wells for the period successfully returned to production.
Investors are expected to closely monitor the company’s full first-half earnings report in the coming weeks, particularly updates on the Oso-BRT pipeline repairs and the anticipated recovery in NGL production.
