Heirs Energies Limited has acquired a 20.07 per cent equity stake in Seplat Energy Plc from French oil and gas firm, Maurel & Prom, in a transaction valued at $500 million, marking one of the largest upstream deals in Nigeria’s energy sector in recent years.
The acquisition positions Heirs Energies, an indigenous energy company within the Heirs Holdings Group, as a significant shareholder in Seplat Energy, Nigeria’s leading indigenous oil and gas producer listed on the Nigerian Exchange Limited (NGX) and the London Stock Exchange.
Under the terms of the deal, Heirs Energies purchased the entire shareholding held by Maurel & Prom, which had been a long-standing investor in Seplat.
The transaction is subject to customary regulatory approvals, including those of relevant Nigerian authorities.
Speaking on the development, Heirs Energies said the investment aligns with its long-term strategy of expanding indigenous participation in Nigeria’s oil and gas industry, while supporting increased production, energy security and sustainable development.
“This transaction underscores our confidence in Seplat’s asset base, management and growth prospects, as well as our commitment to driving Africa’s energy transformation through responsible and indigenous ownership,” the company noted.
Seplat Energy, which operates a portfolio of onshore and shallow water assets in the Niger Delta, said the exit of Maurel & Prom and entry of Heirs Energies reflects growing local and regional investor confidence in Nigeria’s upstream sector.
Industry analysts say the deal highlights renewed momentum in mergers and acquisitions within Nigeria’s energy space, as indigenous firms leverage capital and partnerships to consolidate assets amid ongoing reforms in the oil and gas industry.
The acquisition also reinforces the Heirs Group’s footprint in the energy sector, following its earlier investments in oil and gas, power generation and distribution across Nigeria and other African markets.
