Heirs Energies to acquire a 20.07% stake in Seplat from Maurel & Prom for $496m.

Heirs Energies, an indigenous African energy company, agreed to acquire a 20.07% stake in Seplat, an oil and gas exploration and production company, from Maurel & Prom, an oil company specialising in the production of hydrocarbons, for $496m. “We are incredibly proud to have supported Seplat’s journey over the last fifteen years and its transformation into a leading energy company in Nigeria across both oil and gas. We would like to warmly congratulate and thank Seplat’s management team and successive boards of directors for their outstanding performance over the years and wish them every success for the future, as we are convinced that there is still much more to come. This investment has also proven to be a great success for M&P, delivering very strong returns since inception in 2010. We believe that now is the right time for M&P to monetise this position and further focus on direct investments in oil and gas assets, in line with a growth strategy that we plan to accelerate. We are also very pleased to transfer our stake to Heirs Energies, a subsidiary of the leading PanAfrican investment company Heirs Holdings, we are confident that Seplat will continue to thrive with the support of another strong, long-term shareholder,” Olivier de Langavant, Maurel & Prom Chief Executive Officer.