Seplat Energy has recorded about N2.6 billion as monies from penalties for gas flaring from January to September 2023.
This disclosure is according to the figure from the company’s financial statement for the first to the third quarters of 2023.
The cost represents a 50% increase from the N1.3 billion the company paid for within the same period in 2022.
Operational and maintenance expenses relate majorly to maintenance costs, warehouse operations expenses, community expenses, direct staff costs, security expenses, clean-up costs, fuel supplies, as well as catering services.
The statement also revealed that the operational and maintenance expenses is a gas flare penalty of N2.6 billion (N1.3 billion in 2022) was also included.”
The statistics from the National Oil Spill Detection and Response Agency had revealed that the Federal Government lost about 843 billion Naira to gas flaring between January 2022 and August 2023.
