Seplat Energy Plc recorded a major boost in its 2025 financial results, with revenue climbing 144% to $2.73bn, up from $1.12bn in 2024. The growth was largely driven by a full year of production from its offshore assets.

The company’s audited results, filed with the Nigerian Exchange Limited, also showed strong cash performance. Cash from operations surged 276% to $1.17bn, while capital expenditure was $266.8m. Net debt fell by 25% to $673.3m, strengthening the company’s balance sheet.
Shareholders received a total dividend of 25 cents per share for 2025, equivalent to about $150m, marking a 52% increase from 2024.

The fourth-quarter dividend was 8.3 cents per share, including a special dividend.
On the operational side, average production rose to 131,506 barrels of oil equivalent per day (boepd), up from 52,947 boepd the previous year. Onshore production also grew 14%, supported by new wells and the completion of the Sapele Gas Plant.

The ANOH Gas Plant achieved first gas in January 2026, producing 50–70 million standard cubic feet per day, with condensate currently in storage. Safety performance remained strong, with just one lost time injury across operated assets.

Seplat’s CEO, Roger Brown, said 2025 demonstrated the company’s ability to operate at scale, combining offshore expansion with strong onshore delivery. He noted that ongoing drilling and gas projects, along with lower debt costs, position Seplat to meet its long-term target of 200,000 boepd by 2030 and deliver up to $1bn in cumulative returns to shareholders by then.