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In dissecting Seplat Petroleum Development Company’s recent awards amid challenges presented by Covid-19 pandemic to the oil and gas industry globally, Olaoluwakitan Babatunde writes that strong corporate governance makes the future bright for the firm and its shareholders
Nigeria’s leading indigenous and independent oil and gas firm, Seplat Petroleum Development Company PLC, began year 2021 on a good note, winning the Most Profitable Company of the Year (Oil & Gas: Exploration and Production) at the Nigerian Investor Value Award (NIVA) organised by a national newspaper in conjunction with the Nigerian Exchange Limited. The firm’s Chairman, Dr. ABC Orjiako, also emerged the Board Chairman of the Year 2020.
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The 18 km long Rite Foods Limited pipeline linking the factory in Ososa, Ogun State with the regional gas pipeline hub at Ibefun is complete. Able to carry 150,000,000 ft³ of gas a day, it will deliver reliable energy to the factory, which produces a range of products including Bigi Drinks, Rite and Bigi Sausages and Fearless Energy Drinks.
In a country renowned for its unreliable and expensive energy to domestic customers, this pipeline not only provides the energy security needed for continuous production, but should also significantly cut the factory’s energy bills.