Seplat Energy Plc has successfully brought 49 previously idle wells back into production as part of an ambitious turnaround strategy, with plans to restore an additional 50 wells in 2026. The initiative follows Seplat’s landmark $1.28 billion acquisition of ExxonMobil’s onshore and shallow-water assets.
According to the company’s latest audited financial statement, the 2025 idle well restoration programme “formed the cornerstone of growth delivered offshore in 2025.” The campaign added 48,600 barrels of oil per day (kbopd) in gross production capacity at a gross cost of approximately $60 million, highlighting the capital efficiency of well restoration compared with greenfield drilling.
“We successfully restored 49 idle wells as part of the 2025 idle well restoration programme,” the statement read. “The programme was strongly value-adding, delivering an additional 48.6 kbopd gross production capacity during the year.”
Looking ahead, Seplat aims to bring 50 more wells online in 2026, entering a second phase of the programme while acknowledging that production additions per well may decline as the idle well portfolio matures.
“Our base assumption is that production additions per well will decline as the idle well portfolio matures,” the company noted, signaling that although economics remain compelling, the low-hanging fruit is gradually being picked.
CEO Roger Brown emphasized that the idle well strategy is central to a broader transformation of assets previously “historically under-financed” under ExxonMobil. Brown highlighted that Seplat’s offshore investments have seen renewed vigor, unlocking capacity and enhancing reliability while delivering immediate gains in production.
