Seplat Petroleum Appoints New CEO, As Avuru Joins Board

Following the retirement of Mr. Austin Avuru on July 31 and his appointment as a Non Executive Director of the Board, Mr. Roger Thomas Brown has been appointed CEO and Executive Director.

According to a statement on the Company’s website sighted by TheConscienceNG correspondent,  the appointment took effect on 1st August and the new CEO has assumed the role on same date.

Brown joined Seplat as Chief Financial Officer in 2013. With a background in finance, he is a qualified Chartered Accountant with the Institute of Chartered Accountants of Scotland and also a member of Association of National Accountants of Nigeria.

READ MORE: Austin Avuru Exits as CEO of Seplat Petroleum, Secures Board Appointment

Mr. Brown has over 25 years’ experience in the financial sector, primarily focused on emerging markets with extensive experience in structuring energy and infrastructure transactions on the African continent.

Prior to joining the Company, he held the position of Managing Director of Oil and Gas EMEA for Standard Bank Group.

READ MORE: Seplat to Slash Costs, Drilling Plans over Oil Price Crash

Mr. Brown brings to Seplat extensive financial, accounting, M&A, debt and equity capital markets experience in the emerging markets space, and in particular the African oil and gas sector.

He has advised on some of the largest and highest profile transactions that have occurred in Nigeria in recent years.

Seplat is a leading independent oil and natural gas producer in the prolific Niger Delta area of Nigeria.

The Company’s focus is on maximising hydrocarbon production and recovery from its existing assets, acquiring and farming into new opportunities in Nigeria (specifically those which offer production, cash flow and reserve replacement potential, with a particular focus on the onshore and shallow water offshore areas) and realising the upside potential within its portfolio through exploration and appraisal activities.

Since Seplat acquired its first blocks and commenced production in 2010, the Company has increased oil and gas production and grown reserves in each year of operation and is today widely recognised as a leading Nigerian independent oil and gas operator.

READ MORE: UBA Leads $1.5 billion Investment Funding for Nigeria’s Petroleum Industry

Underpinning Seplat is a strong balance sheet and profitable production base with a balanced mix of oil and gas.

Seplat’s portfolio comprises eight blocks in the Niger Delta, four of which Seplat operates directly.

In April 2014, Seplat completed the first ever dual listing on both the London Stock Exchange and the Nigerian Stock Exchange. Seplat raised US$535 million in an initial public offering that ranked as the largest for a sub-Saharan Africa company since 2008 and the second largest ever for a Nigerian company, demonstrating the international investor appetite for leading Nigerian indigenous players in the oil and gas sector.