The independent indigenous Nigerian upstream exploration and production company Seplat Petroleum Development Company Plc. has announced the appointment of Mr. Roger Brown succeeding Mr. Austin Avuru as the new CEO of the company.
The company made the announcement in a notice signed by its secretary, Edith Onwuchekwa and posted on the Nigerian Stock Exchange recently.
Avuru who is the pioneer Managing Director and later CEO retires effective from July 2020.
Under Avuru Seplat’s gross oil production grew from 22,700 barrels of oil equivalent per day (BOE/D) as at December 2010 to peak of 111,368 boepd gross production as at December 2018, among other achievements.
The Board unanimously chose Mr. Brown to succeed him and lead restructuring efforts between now and July 2020, the date of Avuru’s exit from the board.
According to a statement, it was explained that, Mr. Brown joined SEPLAT in 2013 as the CFO and played a key role in the successful dual listing of the company the London Stock Exchange and Nigerian Stock Exchange in 2014. Similarly, he played significant roles in various asset acquisitions by the company.
“Looking forward, Seplat plans to position itself for a next phase growth ambition which would see the expansion of its footprint in terms of energy business activities, a plan to pursue offshore assets as well as opportunity-driven entry into different geographies.”
“The Company believes that such a corporate transition would require a different kind of organizational structure, people skills set and mentality to compete well in the expanded space. In view of this, Seplat will be reviewing its current organizational and systems structure.” It added.