Emily Smith
Mon, Jul 17, 2023 11:30 PMSeplat Energy CEO Highlights Need for Funding in Nigeria's Energy Sector
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Lagos - Chief Executive Officer, Seplat Energy Plc, Mr. Roger Brown, has underscored the necessity of securing funding for the upstream and midstream segments of Nigeria's energy sector. Speaking at the 2023 Nigeria Oil & Gas Conference (NOG) held in Abuja, Brown discussed the importance of regulatory reforms, fiscal terms restructuring, and other relevant policies in attracting the required investments.
Brown highlighted the need for success stories in the upstream sector to entice more investments. He emphasized the urgency of resolving the insecurity concerns surrounding the country's pipeline infrastructure, ensuring clarity and separation of powers among regulatory authorities, and working closely with field operators to address host community issues. Additionally, Brown urged the amendment of fiscal terms in Production Sharing Contracts (PSCs) and Production Sharing Agreements (PSAs) to offer more incentives for asset partners.
Regarding gas contracts, the Seplat Energy CEO stressed the importance of improving fiscal terms to support the uptake of gas at market reflective prices. He also emphasized the need to enhance the efficiency and capacity of the Nigerian electricity value chain, which would facilitate increased domestic gas supply.
When assessing Nigerian companies for gas development opportunities, Brown outlined several key factors that investors consider. These include financially strong companies with robust balance sheets, low debt, and credible access to international capital markets. Stock market listing and associated governance requirements, particularly for dual-listed companies like Seplat, are also essential. Investors value international accountability, transparency in reporting, and a strong commitment to sustainability, particularly with regards to Environmental, Social, and Governance (ESG) reporting. Building good relationships with the government, regulators, and local communities is another vital factor.
Seplat Energy remains committed to creating and sustaining value in Nigeria's upstream sector. The company has demonstrated this commitment through its strong investment work plan, host community development efforts, strategic partnerships with the government, and a focus on aggressive human capital development.
Source of content: OOO News 2023-07-17 News
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