Seplat Energy has announced plans to pay shareholders up to $1 billion in dividends over the next four to five years as it strengthens production following the integration of assets acquired from Mobil Producing Nigeria Unlimited.

The company said the payout plan reflects its focus on boosting investor returns while expanding its oil and gas operations. It has already begun dividend payments, declaring 35 cents for the current financial year.

Chairman Udoma Udo Udoma said the firm is also working toward raising production to about 200,000 barrels per day on an equity basis and as much as 500,000 barrels per day in total joint venture output. He described the targets as challenging but achievable, noting progress made since the acquisition was completed.

He explained that integrating the acquired assets has helped the company streamline operations, reduce costs, and unify its structure under a single management system. According to him, the acquisition and integration process were completed faster than many in the market expected.

Chief Executive Officer Roger Brown said the enlarged business is already delivering stronger financial performance, supported by a larger asset base and improved operational efficiency across both onshore and offshore operations.

He added that the integration has created a more coordinated organisation, improving resilience against fluctuations in global oil prices. Seplat also pointed to rising investor confidence, noting that its share price recently crossed the N10,000 mark on the Nigerian Exchange.

The company said its long-term strategy is to sustain growth, deliver returns to shareholders, and continue investing in its operations and host communities.