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For the year ended December 2021, Seplat Energy Plc made a pre-tax profit of 177 million dollars.
The figure is 321 percent greater than the company’s previous high of 80 million dollars in 2020, when it was listed on the Nigerian Exchange and the London Stock Exchange.
Mr Roger Brown, Seplat Energy Plc’s Chief Executive Officer, made the announcement to reporters after the company’s 9th Annual General Meeting on Wednesday in Lagos.
Brown stated that Seplat’s revenue climbed by 38% to $733 million in 2021, compared to $531 million in the previous fiscal year.
In 2021, he claimed, the corporation made 618.4 million dollars from oil sales and 114.8 million dollars from gas sales.
According to him, as a result of the COVID-19 epidemic, oil revenues increased to 70.54 dollars per barrel in 2021, compared to 39.95 dollars per barrel in 2020.
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The board also agreed to pay 10 cents per share in dividends to its stockholders, which will be paid quarterly, according to Brown.
Brown also stated that the continuing war between Russia and Ukraine has offered Nigeria with a once-in-a-lifetime opportunity to enter the European market with its gas.
He did say, though, that Seplat remained dedicated to satisfying the country’s domestic gas needs in order to minimize the country’s lack of energy access, which he said was vital to development.
Dr. ABC Orjiako, Seplat Energy Plc’s outgoing Board Chairman, also stated that the company would continue to make significant expenditures to increase its oil and gas production and reserves.
Orjiako said that Seplat had paid the federal government about $2 billion in taxes and royalties, as well as roughly $12 billion to its production partners, including the Nigerian National Petroleum Company (NNPC) Ltd.
(NAN)
