Nigeria boosts oil output after Yoho platform restart

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ABUJA — Nigeria’s crude oil production has received a boost of between 20,000 and 25,000 barrels a day following the restart of the Yoho floating production, storage and offloading facility in OML 104, offshore Nigeria.

The facility, operated by Seplat Producing Nigeria Unlimited, part of Seplat Energy’s offshore business, resumed operations in the third quarter of 2026 after an extended shutdown following a fire in 2025.

The incident caused significant damage to parts of the facility and forced an immediate suspension of production. Seplat subsequently accelerated asset-integrity, engineering and repair programmes, with work continuing through the first half of 2026.

The return of Yoho comes as Nigeria seeks to raise oil production by bringing existing capacity back online, while targeting output of around 2mn barrels a day and, ultimately, 2.5mn barrels a day.

For Seplat, the restart is expected to support its 2026 production guidance of between 135,000 and 155,000 barrels of oil equivalent a day.

The company reported operating costs of $15.8 a barrel of oil equivalent in the first half of 2026, reflecting the impact of the Yoho restoration programme. It has revised its full-year unit operating cost guidance to $14.50-$15.50 a barrel of oil equivalent.

The significance of Yoho extends beyond the additional oil volumes. Its restart restores infrastructure that is central to Seplat’s plans to develop and monetise offshore gas resources.

Seplat is working with UTM Offshore and the Nigerian National Petroleum Corporation on projects aimed at expanding gas processing and export capacity. These include the Oso-BRT project, alongside wider plans to develop gas resources associated with the Yoho area.

An agreement with UTM provides for gas supply to a proposed floating liquefied natural gas project, with development plans extending towards 2030.

The Yoho restart therefore marks more than a recovery of lost production. It highlights Nigeria’s broader strategy of reviving existing oil and gas assets while developing new sources of production and export revenue.

For Seplat, the immediate benefit is the return of oil volumes. The longer-term opportunity lies in using the same offshore infrastructure to unlock additional gas resources.