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Seplat Appoints New CEO As Avuru Prepares To Retire

Austin Avuru, MD/CEO Seplat

The pioneer Managing Director and  Chief Executive Officer of Seplat Petroleum Development Company PLC,, Austin Avuru, will be retiring in July 2020 after 10 years of leading the company.

In a statement, the board of Seplat expressed gratitude to the pioneering CEO for his accomplishments during his 10 years stewardship of the company.

the statement noted that,, Avuru, in the past 10 years, led the development of a strong organization, deployment of agile systems, processes and stakeholder relationships that allowed the company to grow rapidly from a gross production of 22,700boepd as at December 2010 to peaks of 111,368boepd  as at December 2018 through major drilling campaigns and major new Oil and Gas plants development.

According to the statement, the acquisition of 45% of Oil Mining Licence, OML 53, and the Initial Public Offer, IPO, of 2014, created an opportunity in partnership with the Nigerian National Petroleum Corporation, NNPC,, to birth, a mid-stream subsidiary, ANOH Gas Processing Company which could not have been achieved without  Avuru’s leadership skills, personal dedication and hard work, as head of the Company.

the statement also revealed that Seplat will be reviewing its current organizational and systems structure

“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,”

Meanwhile, the Board  of the company has chosen Roger Brown to replace Avuru as CEO, when the pioneer MD steps down on 31 July 2020.

Roger Brown, Seplat CEO Designate

 The Board has also decided that the CEO designate will lead the organization;s restructuring during the Transition period between now and final exit date of the current CEO in 2020.

 Brown joined Seplat in 2013 as the CFO and played a key role in the successful dual listing of the Company in 2014.  Similarly, since joining the Company, he has played significant roles in various asset acquisitions by the Company..


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