Seplat's $1.28bn Deal With ExxonMobil Shows FG's Business Acumen

Seplat's $1.28bn Deal With ExxonMobil Shows FG's Business Acumen
The Chairman of Platform Petroleum, Chief Dumo Lulu Briggs, has expressed his belief that the recent divestment of Mobil Producing Nigeria Unlimited shallow water assets (MPNU) to Seplat Energy Offshore Limited demonstrates the Nigerian government's understanding of business. 

Speaking at an event in Abuja, he noted that the divestments by international oil companies (IOCs) in Nigeria indicate positive progress in the oil and gas sector.
Briggs highlighted the trend of IOCs exiting onshore assets and smaller companies like Seplat stepping in, describing it as a transitional period.

He praised the government for constantly seeking to improve the industry, expressing optimism about the future.

He also emphasized that Nigerians are increasingly taking over the management of oil and gas companies in the country.

Furthermore, Briggs mentioned the positive impact of the Petroleum Industry Act (PIA) in providing a legal framework for industry regulation and enhancing efficiency.

He expressed confidence that with proper due diligence from relevant stakeholders, indigenous oil and gas companies could thrive in the evolving landscape.
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