Seplat Energy CEO Effiong Okon Urges Asset Integrity and Life Extension for Nigeria’s Oil Sector

At the 49th Nigeria Annual International Conference and Exhibition (NAICE) in Lagos, Seplat Energy chief executive Engr. Effiong Okon said independent oil and gas operators must prioritize asset integrity, address equipment obsolescence and extend the life of assets to maximise value and investment returns.

He called for maintaining critical equipment at a 95 % top‑quartile performance level, tracking oil and gas from reservoir to export, improving water treatment, ending routine flaring, monetising every gas molecule, cutting logistical redundancies and investing in human capital. Okon urged the Society of Petroleum Engineers to train more engineers for the sector and highlighted Seplat’s recent shareholder returns, dividend payouts and a shallow‑water gas portfolio of roughly 12 TCF slated for accelerated development.