Seplat plans second exploration well after Aku-01 discovery
Seplat Energy Plc plans a second exploration well for 2027 after discovering oil and gas across five reservoir intervals in its Aku-01 exploration well. Read More: https://punchng.com/seplat-plans-second-exploration-well-after-aku-01-discovery/
Seplat Energy Plc has announced plans for a second exploration well in 2027 following the discovery of oil and gas in its Aku-01 well, located within Petroleum Prospecting Licence 2A25. The company's unaudited nine-month results, released on September 30, reported a seven percent increase in working interest production, with an average of 144,999 barrels of oil equivalent per day.
The discovery of hydrocarbons across five reservoir intervals in the Aku-01 well has de-risked four other prospects on the license, one of which will be tested through the planned 2027 exploration well. Seplat's CEO, Effiong Okon, expressed satisfaction with the discovery, stating it highlights the opportunities available in the company's exploration portfolio.
The company's production growth and financial performance have also improved, with an 87 percent increase in net income compared to the same period in 2025.
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