Nigeria’s leading indigenous oil and gas companies—Seplat Energy Plc, Oando Plc, and Aradel Holdings Plc—achieved a combined crude oil output of 126,314 barrels per day (bpd) in the first half of 2025, marking a significant year-on-year increase despite softer global crude prices. Total production, including gas, reached 194,288 barrels of oil equivalent per day (boepd), fueled by new asset acquisitions, enhanced pipeline reliability, and stricter operational efficiencies, according to company filings.
Seplat Energy led with a 178% production surge to 134,492 boepd, including 100,327 bpd of crude, driven by the restoration of 29 idle wells adding 25,900 bpd and improved offshore asset uptime. CEO Roger Brown noted, “Our H1 output, up over 10% from last year, supports Nigeria’s ambition to boost oil and gas production.” Seplat invested $96.5 million in well completions and the Sapele Integrated Gas Plant, boosting revenue by 231% to $1.4 billion, though net profit fell 45% to $27.4 million due to higher taxes and costs. Its share price rose 3.9% year-to-date to N5,450.
Oando Plc reported a 77% increase in crude output to 10,479 bpd within a total of 37,012 boepd, a 63% rise, driven by the integration of NAOC assets and enhanced Trans Niger Pipeline (TNP) utilization. Group CEO Wale Tinubu highlighted improved security and community relations as key factors. Oando’s $250–270 million capital expenditure focused on infrastructure and ESG initiatives, with revenue down 15% to N1.72 trillion but net profit up to N63.3 billion, aided by a N209 billion tax credit. Its share price climbed 58% over the past year to N53.
Aradel Holdings saw a 19.7% rise in crude output to 15,508 bpd, alongside 41.2 million standard cubic feet per day of gas, and sold 165.3 million liters of refined products, up 32.7%. CEO Adegbite Falade credited stable production and the Alternative Crude Evacuation system. With N48.1 billion in capital expenditure, Aradel’s revenue grew 37% to N368.1 billion, and net profit rose 40% to N146.4 billion. Its share price, however, dipped 1.5% year-to-date to N520.
The Nigerian Upstream Petroleum Regulatory Commission’s Gbenga Komolafe noted that enhanced security measures have supported Nigeria’s push to reach 3 million bpd, up from 1.78 million bpd. Despite challenges like falling crude prices below $70 per barrel, ongoing drilling and asset integration position these firms for sustained growth in H2 2025, contingent on stable global markets and regulatory consistency.
