The board of Seplat Petroleum Development Company Plc, on Monday, announced the retirement of Austin Avuru, its pioneer Managing Director and later Chief Executive, on July 31, 2020, after 10 years in the saddle.
He will be replaced by Roger Brown, who joined the company’s chief finance officer in 2013.
Within the period, according to a notice by Mrs. Edith Onwuchekwa, the company secretary, the company’s capacity grew rapidly from a gross production of 22,700boepd in December 2010 to peak at 111,368boepd at the end of 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 (Nigerian National Petroleum Corporation), to spawn a mid-stream subsidiary, ANOH Gas Processing Company Limited currently progressing what will ultimately be a 300MMscf/d of Gas, 22,500bdp of condensate and 1,200boepd of LPG processing Company.”
These achievements, Onwuchukwu continued, could not have been achieved without the leadership skills, personal dedication and hard work of the outgoing CEO, accomplishments for which the board is grateful.
Brown, the statement continued, is expected to position Seplat for its next growth phase, expanding the company’s footprint in terms of energy business activities, while pursuing offshore assets as well as opportunity-driven entry into different geographies.
The company, she continued, “believes that such a corporate transition would require a different kind of organizational structure, people skills set and mentality to compete well in the expanded space.”
Consequently, she said Seplat will review its current organizational and systems structure, led by the CEO designate during the transition period which begins immediately, and July 31, 2020.
Since joining the company, the statement said Brown, a Briton, played significant roles in the successful dual listing of the Company in 2014 and in various asset acquisitions by the Company.
Brown who was an advisor to the company since 2010, as Managing Director and head of EMEA Oil and Gas at Standard Bank Group, the statement continued, “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.”
While at the bank, he was instrumental in providing advice and deploying capital across the African continent in the oil and gas, power and infrastructure and the renewable energy sectors.

Photo Caption: Outgoing Chief Executive of Seplat Petroleum Development Company Plc, Austin Avuru (2nd left), answering a question during the company’s annual general meeting on May 16, 2019. He is flanked by Basil Omiyi, a director (left); Dr. A.B.C. Orjiako, Chairman (second right); and Roger Brown, Chief Financial Officer, and CEO designate (right).