Seplat Energy has restated its commitment to Mobil Development Nigeria Inc. and Mobil Exploration Nigeria Inc. (ExxonMobil) it is committed to preserving the acquisition of its assets at $1.28bn, a transaction which was blocked by the Nigerian National Petroleum Company Limited over failure to follow due process.
Seplat said it further revised the Share Sale and Purchase Agreement (SSPA) in a manner that would allow ExxonMobile to share in a portion of the value that would accrue to Seplat Energy in the period between the effective economic date and the completion date of the transaction.
