Sub-Saharan Africa M&A | Will Seplat’s transformational acquisition set the stage for further deal-making in Nigeria?

February 28, 2022

Nigerian independent Seplat Energy has agreed to pay US$1.283 billion (plus US$300 million in contingency payments) for ExxonMobil’s Nigeria shallow-water portfolio. This deal is Nigeria’s first major transaction following the passage of the 2021 Petroleum Industry Act (PIA) and could be the catalyst for further transactions.