Seplat Energy, listed in Nigeria and London, has said it will double its overall crude oil production through its newly acquired onshore assets from ExxonMobil Corporation.

The company’s senior management has expressed commitment to doubling its production capacity from 50,000 barrels per day to roughly 120,000 bpd in six months.

Seplat’s chief financial officer Eleanor Adaralegbe said this in an interview with the Financial Times.

The assets have had very minimal investments until now. We expect that once we come in there will be an opportunity to grow that much further,” he said.

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The company acquired Mobil Producing Nigeria Unlimited MPNU from ExxonMobil in December 2024, as the latter joined a list of International Oil Companies (IOCs) that exited the country or let go of onshore operations.

Thanks to the $1.28bn acquisition, Seplat is now one of the biggest domestic oil and gas producers with an asset base of 11 onshore oil blocks, 48 oil and gas fields, three export terminals, and five gas processing facilities.

Seplat Chief Executive Officer, Roger Brown said the company controls 16 percent of Nigeria’s present production capacity.

Seplat is expected to run the new assets in conjunction with the Nigerian National Petroleum Company (NNPCL) as required by the Petroleum Industry Act.