Seplat Energy says it has not aborted its move to acquire Exxonmobil assets in Nigeria
The company conveys the clarification in a statement,saying the Sale and Purchase Agreement (SPA), earlier announced February 25, 2022, deals with the acquisition of the entire share capital of MPNU’s shareholders, Mobil Development Nigeria Inc. and Mobil Exploration Nigeria Inc., being entities of ExxonMobil Corporation registered in Delaware (ExxonMobil).
It added:“The company has become aware of newspaper and social media reports that the Nigerian National Petroleum Company Limited (NNPC) has exercised a right of pre-emption under the NNPC/Mobil Producing Nigeria Unlimited (MPNU) Joint Operating Agreement (JOA).”
The energy company stated that the MPNU is not a party to the SPA and continues to hold its interests, rights, and obligations under the NNPC/MPNU JOA.
It also confirms that no event of termination has occurred, and the SPA remains valid and subsisting amid some reports that the SPA between ExxonMobil and Seplat Energy has been terminated.
The energy firm said it is a compliant company and will continue to follow the laws of the Federal Republic of Nigeria.
