Seplat Energy Targets Up to 155,000 boepd in 2026 with 17-Well Drilling Program in Nigeria
Seplat Energy Plc has announced plans to drill 17 new wells in 2026 as part of a strategy to increase production and move closer to its long-term output targets for 2030.
The drilling program forms part of the company’s 2026 business strategy, outlined in its 2025 full-year report, which focuses on strengthening production capacity and expanding both oil and gas output.
According to the report, the 2026 drilling campaign will include 15 onshore wells and two offshore wells, with most of the activity taking place in Nigeria.
Seplat has set its initial production guidance for 2026 between 135,000 and 155,000 barrels of oil equivalent per day (boepd).
The company expects onshore assets to contribute between 43% and 48% of total production, while offshore operations are projected to account for 52% to 57%.
Investment and Drilling Program
The drilling campaign is part of a broader investment plan, with capital expenditure expected to range between $360 million and $440 million.
Seplat plans to allocate spending roughly evenly between onshore and offshore operations.
Offshore drilling will involve the Shelf Drilling Victory jack-up rig, which is already operating in Nigeria as part of a multi-year drilling campaign. The rig is scheduled to begin a multi-well infill drilling program in the third quarter of 2026.
Seplat said offshore drilling next year will focus on completing two new wells at the Oso Field in Oil Mining Lease 70.
Gas Projects to Drive Growth
The company expects natural gas and natural gas liquids (NGLs) to drive much of its production growth in 2026.
Output gains will be supported by the ANOH Gas Processing Plant, which is expected to increase operations after its January 2026 start-up, and by the first phase of the Oso expansion project.
Seplat said the Oso expansion will double its offshore gas sales capacity, enabling higher volumes of gas and associated liquids to reach the market.
Growth will also come from increased higher-value NGL production, particularly as the ANOH facility ramps up toward full capacity.
Oil Production and Asset Management
The company plans to support oil production by restoring idle wells and drilling new ones, although output could be affected by planned maintenance activities.
Production at the Yoho Field, which was disrupted by a fire incident last year, is expected to resume in the second quarter of 2026.
Seplat also forecasts strong growth in NGL output, with production at the midpoint of its guidance expected to increase by about 85% year-on-year following the replacement of an inlet gas exchanger at the East Area Project. Improved NGL throughput is expected to begin from the first quarter of 2026.
Gas production is also projected to rise significantly. Midpoint guidance suggests year-on-year growth of around 30%, supported by equity wet gas production from the ANOH project and higher offshore gas sales from the third quarter of 2026 following completion of the Oso-BRT Phase 1 expansion.
Costs and Maintenance
Seplat expects unit operating costs to range between $13.5 and $14.5 per barrel of oil equivalent in 2026.
Higher production levels are expected to help reduce unit costs compared with the previous year.
The company noted that stable operating expenses combined with increased output should drive the projected improvement in operating efficiency.
However, Seplat also plans to carry out partial shutdowns of offshore assets during 2026 to maintain reliability and strengthen asset integrity.
These shutdowns are expected to take place mainly during the first and fourth quarters of the year.
