We congratulate SEPLAT ENERGY on successfully completing its acquisition of the entire share capital of Mobil Producing Nigeria Unlimited, encompassing ExxonMobil Corporation’s offshore shallow water business in Nigeria.
Udo Udoma & Belo-Osagie is pleased to have advised on the Nigerian elements of this landmark transaction. The deal positions Seplat Energy, dual listed on both the Nigerian Exchange and the London Stock Exchange, as the largest indigenous independent energy company by reserves in Nigeria.
The acquisition includes a 40% operated interest in oil mining leases 67, 68, 70, and 104, together with associated infrastructure and assets, including the Qua Iboe Terminal, 51% interest in the Bonny River Terminal NGL Recovery Plant and interests in the Yoho FSO and the Aneman-Kpono Field.
The transaction exemplifies UUBO’s multi-disciplinary expertise and market-leading role in facilitating strategic and transformative transactions that redefine diverse industries and sectors.
The transaction completion team was led by Oil & Gas and M&A partner Folake Elias-Adebowale, with valuable support from managing associate, Mesuabari Mene-Josiah, senior associates, Elo Adhekpukoli and Damilola Adedoyin, and associates, Godson Iwuozo, Solomon Adegboyo, Noble Chinwendu, Precious David, Anjolaoluwa Shittu, Ifunanya Chinwuba, and Titilola Odi.
Specialist expertise was also provided by Partner, Jumoke Lambo and Senior Associate Victoria Agomuo (employment matters); partner Festus Onyia and senior associates Chisom Ndubuisi, Titilola Olatunde-Fasogbon, and Michael Ugah (Dispute Resolution matters); partner, Joseph Eimunjeze and associate Solomon Adegboyo (Tax Advisory matters); and Alsec Nominees Limited CEO, Oyindamola Ehiwere and associate, Ayomikun Ola-Kenny (Company Secretarial Matters).
For more information about UUBO’s 21 practice group offerings, please email us at uubo@uubo.org or visit www.uubo.org.
