That transition is now moving from that combustion of fossil fuels to electricity, and, to an extent, gas. And so, we are now beginning to see a lot of countries that are, by legislation, going the cleaner energy way for electricity. Being an energy company, there is need for us to align ourselves with this development. Also, being a carbon footprint company, this is very important to us.
Seplat has successfully concluded its 8th annual general meeting. How would you rate the performance of the company in 2020? Last year, we showed the resilience of our business and also showed the counterbalance of our gas business, which is linked to oil prices.Our operational and financial performances reflect the very challenging conditions described above. Our average Working Interest Production was 51,183boepd, including 33,714boepd of liquids and 101MMscfd gas . Of this, our Eland assets contributed 8,855bopd, or 26 percent of total liquid volumes.
When we started business, obviously, oil was making revenue, but over time, things started to change. Today, the world is transiting from combustion-driven economies to electricity-driven economies. This means that Seplat is committed to providing solutions that will facilitate access to energy and provision of electricity in Nigeria at an affordable rate, as well as ensuring that gas is made cheaper than diesel.
Although its completion has experienced some inevitable delays because of restrictions on imports due to COVID-19, the ANOH project woulds significantly enhance Seplat’s position as Nigeria’s leading supplier of processed gas for the domestic energy market.
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