Seplat Energy Regulatory News (SEPL)

Seplat Petroleum Development Company PLC

Incident during maintenance at Benin River Valve Station

Lagos and London - July 09, 2020: Seplat Petroleum Development Company Plc ("Seplat" or the "Company") has been informed of a serious incident involving seven fatalities following an explosion during planned work by a Nigerian Petroleum Development Company (NPDC) contractor on 7th July 2020, at the Benin River Valve Station on OML 40 in Delta State. There were no other casualties and the fire was quickly extinguished. No Seplat employees were involved.

The explosion occurred during the installation of a ladder on a platform at the Benin River Valve Station which is used for exporting Gbetiokun production. The site of the incident is some distance from field operations on OML 40, which were unaffected.

Our thoughts and prayers are with the friends and families of all those who lost their lives. Our utmost priority will continue to be the safety and wellbeing of our employees and contractors, as well as their families.

The Nigerian National Petroleum Corporation (NNPC) provided further details of the incident and confirmed that a detailed investigation into the cause of the explosion has commenced in an announcement issued yesterday:

https://www.nnpcgroup.com/News-and-Media/newsupdate/Lists/Posts/Post.aspx?List=d8d8e47d%2D1cc5%2D4cdc%2Db2a8%2D218bc32ae0d1&ID=39&ContentTypeId=0x011000C86A3BFE3D96264CBDF4977450D06D82

Notes to Editors:

OML 40 is operated by the Nigerian Petroleum Development Company (NPDC) on behalf of the NPDC/Elcrest Joint Venture.

NPDC, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), owns 55% and Elcrest Exploration and Production Nigeria Ltd (EENPL), owns 45%. Elcrest is a joint venture between Starcrest (55%) and Eland (45%), which is a subsidiary of Seplat.

Enquiries:

Notes to Editors

Seplat Petroleum Development Company Plc is a leading indigenous Nigerian oil and gas exploration and production company with a strategic focus on Nigeria, listed on the Main Market of the London Stock Exchange ("LSE") (LSE:SEPL) and Nigerian Stock Exchange ("NSE") (NSE:SEPLAT).