Seplat Targets 500,000bpd Oil Production, $1bn Shareholder Dividends

Seplat Energy has outlined ambitious plans to expand its oil production to 500,000 barrels per day and distribute $1 billion in dividends to shareholders over four to five years.

The company's CEO, Mr. Effiong Okon, revealed the targets during a forum at Africa Oil Week 2026 in Accra, Ghana, citing disciplined capital allocation and a highly liquid balance sheet as key drivers of growth.

Okon highlighted that Seplat has already returned $835 million in dividends to investors since borrowing $530 million in its early years. The company's market capitalisation stands at $3.93 billion, with a 170.10 per cent surge in market cap over the past year.