Seplat Energy has named prominent Nigerian investor Tony Elumelu as a non-executive director, a move triggered by a significant shift in the firm’s “ownership structure.”
The announcement, detailed in a notice filed on the Nigerian Exchange Limited (NGX) on Thursday, also confirmed the departure of Olivier de Langavant from the board, effective “22 January.”
Mr. de Langavant had served since 2020 as a representative of Etablissements Maurel et Prom SA, which recently divested its “20.07 per cent stake in Seplat.”
This board reshuffle follows a “$500 million” deal in December 2025, where Heirs Energies acquired “120.4 million shares” previously owned by Maurel & Prom.
Mr. Elumelu, who chairs Heirs Holdings and United Bank for Africa, saw his appointment take effect on the same date as the transition.
His firms recently took over the shares at a price of “GBP 3.05 per share.”
Seplat’s chairman, Udoma Udoma, expressed gratitude for the outgoing director while welcoming the new appointment.
“On behalf of the Board and Management, I wish to express our profound appreciation to Mr. Langavant for his outstanding contribution to Seplat Energy over the past six years. His expertise and commitment have been instrumental in driving our strategic initiatives,” he said.
He further added, “We warmly welcome Mr Elumelu to the Board and look forward to leveraging his wealth of experience and leadership as we continue to pursue sustainable growth and value creation for all stakeholders.”
As of late 2025, Seplat Energy maintains a strong market presence as an independent producer with “2P reserves of 1.043 billion barrels of oil equivalent.”
Its new stakeholder, Heirs Energies, is a critical player in the domestic market, producing over “50,000 barrels of oil per day” and serving as a “major supplier of gas for domestic electricity generation in Nigeria.”
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