Seven Energy is a leading Nigerian integrated gas company

Strategic Alliance Agreement with Nigerian Petroleum Development Company

News and announcements

20 March 2017

Strategic Alliance Agreement with Nigerian Petroleum Development Company

London, Lagos, 20 March 2017: Seven Energy Finance Limited, with its parent company Seven Energy International Limited (“Seven Energy”), the leading integrated gas company in south east Nigeria, with upstream oil and gas interests in the region, announces that it has taken legal steps to protect its rights under the Strategic Alliance Agreement between its wholly owned subsidiary, Seven Exploration & Production Limited (“SEPL”) and Nigerian Petroleum Development Company Limited (“NPDC”) relating to OMLs 4, 38 and 41 (the “SAA”).

On 7 February 2017 Seven Energy announced that it had received notice from NPDC of its intention to terminate the SAA. Seven Energy has since taken legal steps to protect its rights, including under the SAA, by applying for injunctive relief in the Nigerian courts and arbitration in accordance with the dispute resolution process under the SAA. Notwithstanding the pendency of the legal proceedings, Seven Energy and NPDC continue to engage in good faith to resolve the dispute amicably.

For further enquiries, please contact:

Seven Energy International Limited
Phillip Ihenacho
Chris Thomas, CFO
Joe Kaye, Group Head, Finance
John Arthur, Planning and Performance Manager

+44 20 7518 3850

Brunswick Group
Patrick Handley
William Medvei

+44 20 7404 5959

Caritas Communications
Okwudili Oniya

+234 809 996 1007

About Seven Energy

Seven Energy, founded in 2004, is the leading integrated gas company in south east Nigeria, with upstream oil and gas interests in the region. With a deep understanding of the domestic Nigerian gas market, supplying gas to the power generation and manufacturing industries, principally through its own integrated processing and pipeline infrastructure, and the backing of strategic long-term investors, the Group has a unique focus on the emerging Nigerian domestic gas market. The Group’s midstream gas infrastructure assets, focused in the south east Niger Delta, include the 200 MMcfpd Uquo gas processing facility and a gas pipeline network of 260 km with distribution capacity of 600 MMcfpd. Its upstream assets include licence interests in the Uquo Field and the Stubb Creek Field (south east Niger Delta), an indirect interest in OMLs 4, 38 & 41 through a Strategic Alliance Agreement with Nigerian Petroleum Development Company (north west Niger Delta) and a licence interest in OPLs 905, 907 and 917 (Anambra Basin). The Group has its main offices located in Lagos and London.

Seven Energy Finance Limited is a wholly owned subsidiary of Seven Energy International Limited incorporated in the British Virgin Islands. The Company is the issuer of US$300 million 10.25% Senior Secured Loan Notes due 2021 and the US$100 million 10.50% Senior Secured Notes due 2021, both of which are listed on the Irish Stock Exchange.

For more information on Seven Energy please visit www.sevenenergy.com