Seplat Calls For Speedy Exploration, Local Skills, Technology To Grow Oil Output
By Sunday Etuka
Seplat Energy’s Chief Executive, Engr. Effiong Okon, has told industry leaders that Nigeria’s vast hydrocarbon resources will only translate into prosperity if the country speeds up production and connects every link of its energy value chain.
Engr. Okon made the case in two keynote addresses at the 44th Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference & Exhibition (AICE) 2026 in Lagos, according to a statement issued on Wednesday by Stanley Opara, the company’s Manager, Corporate Communications & Media Relations.
Speaking on the opening day, under the theme “Unlocking More Barrels: Driving Reserves Growth Through Exploration, Local Capabilities and Adaptive Technology,” Okon said Nigeria is well placed globally but must move faster in converting resources and reserves into actual output.
“Nigeria is better placed than most. We have a significant resource base and a strategic position in global energy supply. However, a reserve is a promise. A barrel delivered is a result. Our task is to close the distance between the two, and to do it faster,” he said.
He named exploration, local capability and adaptive technology as the three levers for growing reserves and production. According to him, better seismic imaging, disciplined appraisal and digital tools can reduce subsurface uncertainty and sharpen the quality and speed of investment decisions.
Okon pointed to Seplat’s own record as proof of what indigenous companies can achieve. The company has brought back 90 idle offshore wells in under 24 months, and the 41 wells restored in 2026 added gross capacity of roughly 33,700 barrels of oil and 176 million standard cubic feet of gas per day.
He also cited the use of machine learning in subsurface evaluation and development planning, along with successful appraisal programmes at Amukpe and Okporhuru, as examples of blending technology, existing infrastructure and disciplined execution to speed up commercialisation of resources.
On the second day, in a pre-panel keynote titled “Energy Security in an Era of Global Disruption: Positioning Nigeria for Resilience, Competitiveness, and Prosperity,” Okon said additional resources must be backed by a resilient, interconnected value chain.
He described energy security as a challenge spanning upstream production, pipelines, gas processing, refining and petrochemicals, and power generation and transmission, together with a stable policy environment that can attract long-term capital.
“Disruption raises the value of dependable supply, and Nigeria is building the capacity to provide it: first for Nigerians, and then for the world,” he said.
Okon noted that renewed investment across the upstream, gas, midstream, refining and power sectors offers a chance to strengthen domestic supply and improve Nigeria’s standing in the global market.
He added that the investments show the system is being progressively rebuilt, but that announcements and individual projects will deliver security only when the components work together.
He named connection, consistency and Nigerian delivery as the three priorities needed to turn investment into lasting energy security.
“Every project is only as valuable as its link to the next point in the chain: well to plant, plant to pipeline, pipeline to power station, and power station to customer,” he said.
Seplat’s ANOH Gas Plant and its link to national gas infrastructure illustrate this principle, he said. The company achieved its first commercial gas through the OB3 pipeline in September, showing the value of connecting indigenous investment with strategic national infrastructure.
Okon also stressed regulatory and policy consistency, saying capital will keep flowing to jurisdictions where investors trust the rules and where projects can move from investment decision to execution within predictable timelines.
He called for Nigerian companies, capital, skills and contractors to play a growing role in developing the country’s energy resources so that sector expansion creates domestic economic value.
According to Okon, Nigeria’s ultimate aim should go beyond higher oil and gas output to ensuring that energy supports industrialisation, jobs and wider economic development.
“The objective was never security alone. Energy security is the means. Prosperity is the end: power for homes and factories, feedstock for fertiliser and petrochemicals, jobs, and revenue that stays at home,” he said.
He added that natural gas will remain central to Nigeria’s development, powering electricity generation and industry while reinforcing the country’s role as a reliable supplier.
“The stronger our own system, the more we can contribute to the world’s energy security. National and global energy security are one project,” Okon stated.
Reaffirming Seplat’s commitment to Nigeria’s energy transition and economic development, the CEO said the sector must now focus on execution, collaboration and speed.
“A resource in the ground creates potential, but only energy delivered creates prosperity. Our task is to find more, decide faster and deliver sooner. We must connect the investments being made, sustain the momentum and deliver the energy Nigeria needs, so that the country is secure at home and becomes an increasingly dependable partner to the world,” Okon concluded.
