Heirs Energies acquires $500m stake in Seplat Energy, bolstering indigenous leadership in Africa's energy sector

Africa’s leading indigenous integrated energy company, Heirs Energies, has acquired a significant 20.07% stake in Seplat Energy Plc for approximately $500 million.

The purchase of 120.4 million shares from Maurel & Prom S.A. at GBP 3.05 per share marks a strategic move to strengthen local ownership of vital energy assets.

Chairman Tony Elumelu said the acquisition aligns with the company’s long-term vision for energy security and industrialization in Nigeria and Africa.

He commended Seplat Energy as a resilient, well-governed platform with strong prospects.

The landmark deal was financed by two African institutions, Afreximbank and AFC, highlighting growing continental capacity for major transactions.

Heirs Energies, operator of OML 17 in the Niger Delta, reinforces its position as a major gas supplier and a leader in safe, reliable onshore operations.

Indeed, Heirs Energies is a leading gas producer and supplier into Nigeria’s domestic gas market, providing fuel for over 400 megawatts of electricity generation, powering millions of homes, businesses and factories.

Seplat Energy Plc is also a Nigerian independent energy company focused on oil and gas exploration, production, and gas processing, primarily in the Niger Delta.

It is listed on both the Nigerian Exchange and the London Stock Exchange and is a key player in Nigeria’s energy transition.

Seplat Energy has, as at December 31, 2024, 2P reserves of 1.043 billion barrels of oil equivalent (MMBoe) and working interest production 135.6 kboepd as at October 31, 2025.

About The Author

Dele Fashomi

Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.

Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.

He had done many courses in communication, including the EU-BBC Editing Course in 2002.

Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).

He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.

He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.

Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled: Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.

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