After setting production guidance of 48,000 – 55,000 boepd in 2021, SEPLAT missed its lower limit target by 0.64% with working interest production coming in at 47,693boepd (liquid: 29,091bopd, -13.71%YoY; Gas: 18,602boepd, +6.48%YoY). However, Bonny light gaining more than 70% in the year raised revenue from oil and gas to USD733.19mn (+38.22%YoY), the highest sales recorded since inception. In Naira terms, this amount translated to NGN293.63bn (53.80%YoY) based on an exchange rate of NGN400.48/USD.
