Petroleum Africa
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Monday, May 12, 2014
Seplat Petroleum Company Development Co. has been named a Global Growth Company by the World Economic Forum (WEF). Commenting on Seplat’s recognition by the WEF, David Aikman, Managing Director and Head of the New Champions at WEF said, “When choosing entrants to our Community of Global Growth Companies, we assess companies on their business model, annual revenues and growth rates, executive leadership and market position.”
The recognition is coming a few weeks after the company’s very successful and over-subscribed IPO, which raised over $500 million on both the Nigerian and the LSE.
The company has also just announced the signing of a 15-gas supply contract with an IPP underpinning the expansion of Seplat’s domestic gas business and the contract will leverage SEPLAT’s additional $300 million investment in gas to boost power supply.
Chairman of SEPLAT, Dr ABC Orjiako, who is a participant at the WEF taking place in Abuja, said “the award is both recognition and validation of the significant strides we have made at SEPLAT, which has led to our clear emergence as a highly focused oil and gas company heralding a new era in the Nigerian oil and gas industry. We are humbled by the recognition which we believe will spur us on to greater achievements.”
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