Seplat Petroleum Development Company PLC (SEPLAT) has announced that her pioneer Managing Director and CEO, Austin Avuru will be retiring in July 2020, after 10 years of leading the company.
In these 10 years, Avuru led the development of a strong organization, the deployment of agile systems, processes and stakeholder relationships that allowed the organization to grow rapidly, from a gross production of 22,700bpd as at December 2010, to peaks of 111,368bpd gross production, as at December 2018, through major drilling campaigns and major new Oil and Gas plants development.
The acquisition of 45% of OML 53, post Company’s IPO of 2014, created an opportunity in partnership with NNPC, to spawn a mid-stream subsidiary, ANOH Gas Processing Company Ltd, currently progressing what will ultimately be a 300MMscf/d of Gas, 22,500bdp of condensate and 1,200bpd of LPG processing Company. All these could not have been achieved without Avuru’s leadership skills, personal dedication and hard work, as the head of the Company.
Looking forward, Seplat plans to position itself for a next phase growth ambition, which will 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 terrains. The Company believes that such a corporate transition will require a different kind of organizational structure, people skills set and mentality to compete well in the expanded space. In view of this, Seplat will be reviewing its current organizational and systems structure.
To lead the Company in her latest aspirations, the Board has selected Roger Brown, as the successor to Austin Avuru, as CEO, when he steps down, on the 31st of July 2020. The Board also decided that the CEO designate will lead the restructuring, during the transition period, between now and the final exit date of the current CEO.
Roger 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.
The CFO brings to the CEO role, a deep knowledge of the Company in his 6 years as the CFO, and a member of the Board. He has strong financial, commercial and M&A experience, as well as proven people skills, which will be an asset, as the Company embarks on the next phase of its growth plan.
Prior to joining SEPLAT, Roger Brown was an advisor to the Company since 2010, while he was the Managing Director and head of EMEA Oil and Gas, at Standard Bank Group. During his time at the bank, he was instrumental in providing advice and deploying capital across the African continent, in the Oil & Gas, Power Infrastructure and the renewable energy sectors.