Heirs Energies Limited has completed the acquisition of Maurel & Prom S.A.’s entire 20.07% equity stake in Seplat Energy Plc.
The transaction involved 120.4 million ordinary shares purchased at GBP3.05 per share.
Valued at approximately $500 million, the deal closed on December 31, 2025.
Heirs Energies Chairman Tony Elumelu described the acquisition as a long-term investment in Nigeria’s and Africa’s energy future.
It strengthens indigenous ownership of strategic assets, aligning with goals for energy security, industrialisation, and sustainable development.
Afreximbank and Africa Finance Corporation provided financing, highlighting African institutions’ role in major energy deals.
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Seplat Energy operates as a leading independent oil and gas firm, listed on the Nigerian Exchange and London Stock Exchange.
The company holds 2P reserves of 1.043 billion barrels of oil equivalent and working interest production of 135.6 thousand barrels of oil equivalent per day as of late 2025.
Heirs Energies produces over 50,000 barrels of oil and 120 million cubic feet of gas daily from OML 17 in the Niger Delta.
The firm supplies gas for over 400 megawatts of electricity generation, powering homes, businesses, and industries.
This landmark transaction enhances local control and value creation in Nigeria’s upstream petroleum sector, reinforcing indigenous leadership in integrated energy operations.
