Seplat Energy Plc has completed the transition of its onshore oil and gas assets to Nigeria’s Petroleum Industry Act (PIA), a move expected to boost efficiency and profitability.

The company’s subsidiaries, Seplat West Limited and Seplat East Onshore Limited, fulfilled all technical and regulatory requirements with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The assets involved previously under Oil Mining Leases 4, 38, 41, and 53 produced an average of 42,591 barrels of oil equivalent per day in the first nine months of 2025, representing about 31% of Seplat’s total output.

With new Petroleum Mining Lease and Prospecting Licence numbers issued, operations under the PIA framework are expected to start on January 1, 2026, pending regulatory guidance.

Seplat’s CEO, Roger Brown, said the move lays the foundation for better profitability and stronger cash flow margins for the company’s onshore operations. The company also plans to complete the conversion of its offshore assets by 2027.

The PIA was introduced to reform Nigeria’s oil sector, bringing new tax rules, clearer licensing, and improved transparency, aiming to attract investment and increase operational efficiency.