by Zara Mustapha

The World Economic Forum has named SEPLAT Petroleum Development Company Plc. a global growth company.

With this recognition, SEPLAT joins a vibrant community of the world’s most dynamic, influential and high-growth companies. Companies are judged on their compliance with set criteria: growth, global corporate citizenship, executive leadership and impact on the competitive landscape of their region or industry.

Commenting on the rationale behind SEPLAT’s recognition as a Global Growth Company, David Aikman, Managing Director and Head of the New Champions at the World Economic Forum said “When choosing entrants to our Community of Global Growth Companies, we assess companies on their business model, annual revenues and growth rates, executive leadership and market position. SEPLAT is a dynamic group with clear potential to shape the future in its relevant business sectors and so is a perfect fit to our GGC community.

The recognition is coming a few weeks after the company’s very successful and over-subscribed IPO, which raised over $500m on both the Nigerian and London Stock Exchanges. The company has also just announced the signing of a fifteen-year gas supply contract with an Independent Power Plant underpinning  the expansion of Seplat’s domestic gas business and  the company’s organic growth. This contract will leverage SEPLAT’s additional $300m investment in gas to boost power supply.

SEPLAT has, in the space of 4 years, steadily emerged as a global brand and player owing to its phenomenal growth trajectory, experienced management and strict adherence to Corporate Governance Best Practices which the company underlines as the bed rock of its existence and pivotal to the sustainability of its growth aspirations.

Chairman of SEPLAT, Dr ABC Orjiako, who is a participant at the World Economic Forum, Africa taking place in Abuja from May 7 to May 10, 2014 said “the award is both recognition and validation of the significant strides we have made at SEPLAT, which has led to our clear emergence as a highly focused oil and gas company heralding a new era in the Nigerian oil and gas industry. We are humbled by the recognition which we believe will spur us on to greater achievements.”