Heirs Energies, owned by businessman and entrepreneur Tony Elumelu, has acquired your entire 20.07% fairness stake beforehand held by Maurel & Promenade S.A. in Seplat Power Plc for 305 pence per share, valuing the transaction at roughly US$500 million.
The landmark acquisition (120.4 million atypical shares), introduced on December 31, 2025, by the French agency Maurel & Promenade, represents an extra milestone in Heirs Energies’ long-term technique to strengthen indigenous participation in strategic property and speed up sustainable power growth and safety for Nigeria and Africa.
Commenting on the transaction, Elumelu mentioned: “This acquisition displays our robust perception in Africa’s capability to personal, develop, and responsibly handle its strategic assets. It’s a long-term funding in Nigeria’s and Africa’s power future, and aligns with our mission to drive power safety, industrialisation, and shared prosperity. Seplat Power has constructed a resilient, well-governed platform with compelling long-term prospects, and we’re happy to assist its continued development and worth creation for all stakeholders.”
The acquisition was supported by Afreximbank and AFC, additional demonstrating Africa’s capability to finance its personal offers.
Heirs Energies operates OML 17 within the Niger Delta, producing over 50 thousand barrels of oil per day (50 kbopd) and 120 million cubic toes of gasoline per day (120 mmcfd), with reserves base of over 1.5 billion barrels of oil (MMBo) and a couple of.5 trillion cubic toes of gasoline (Tcf).
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The corporate additionally provides gasoline to the home market, offering gasoline for over 400 megawatts of electrical energy era, powering thousands and thousands of properties, companies, and factories.
Alternatively, Seplat Power Plc is an impartial power firm targeted on oil and gasoline exploration, manufacturing, and gasoline processing, primarily within the Niger Delta.
Listed on each the Nigerian Alternate and the London Inventory Alternate, Seplat Power has, as of 31 December 2024, 2P reserves of 1.043 billion barrels of oil equal (MMBoe) and dealing curiosity manufacturing of 135.6 kboepd as of 31 October 2025.
