Heirs Energies Limited, Africa’s foremost indigenous integrated energy company, has completed the acquisition of a 20.07 per cent equity stake in Seplat Energy Plc from French firm Maurel & Prom S.A.
Okay News reports that the transaction, valued at approximately $500 million, involved the purchase of 120.4 million ordinary shares at GBP 3.05 per share.
The deal marks a significant milestone in enhancing local ownership of strategic energy assets in Nigeria.
Heirs Energies Chairman Tony Elumelu, a prominent Nigerian businessman and philanthropist, described the investment as a long-term commitment to Nigeria and Africa’s energy future.
He emphasised its alignment with the company’s mission to promote energy security, industrialisation, and shared prosperity across the continent.
Elumelu praised Seplat Energy’s resilient and well-governed platform, expressing confidence in its continued growth and value creation for stakeholders.
The transaction received financing support from leading African institutions Afreximbank and Africa Finance Corporation (AFC), highlighting the continent’s growing capacity to fund major deals independently.
Heirs Energies operates Oil Mining Lease 17 in the Niger Delta, producing over 50,000 barrels of oil and 120 million cubic feet of gas daily.
Since its establishment in 2021, the company has emerged as a leader in onshore operations revival, supplying gas for over 400 megawatts of electricity generation.
Seplat Energy, dual-listed on the Nigerian Exchange and London Stock Exchange, focuses on oil and gas exploration, production, and processing in the Niger Delta region.
The acquisition reinforces indigenous participation in Nigeria’s energy sector amid ongoing transitions toward sustainable development.
