Seplat unveils 5yr strategic plan, targets 500,000bpd output, $1bn dividends payment

Seplat Energy Plc has launched a five-year growth plan aimed at increasing oil production to 500,000 barrels per day and paying out $1 billion in dividends to shareholders. Chairman Senator Udoma Udo Udoma stated that the integration of Mobil Producing Nigeria Unlimited has made Seplat larger and better positioned to achieve its goals. The company targets 200,000 bpd for the legacy company and 500,000 bpd for total joint venture production.