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Nigeria's local oil and gas producer, Seplat Petroleum, announced its return to growth after the first six months of the year with a pre-tax profit before tax of $ 105 million. dollars, compared with a loss of $ 28 million, in the first half of 2017.
According to Seplat Petroleum's document, sales in the first half increased by 160%, year on year, to $ 343 million . According to Natural Gas World, natural gas revenues were $ 85 million and accounted for 25% of sales. Above all, it is 57% higher than last year.
Speaking of net production, Seplat Petroleum reports that it has increased by 94% to 51,099 barrels of oil equivalent per day. Specifically, it includes 25,286 barrels / day and 155 million cubic feet / day.
Note that the improvement in international oil prices and the 2% increase in average gas prices have been a major contributed to the financial health of Seplat Petroleum.
The indigenous company said it is currently negotiating with various potential buyers of its gas, which could increase its raw gas production to 400 million cubic feet per day.
Moctar FICOU / VivAfrik
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