Financial Highlights of SEPLAT in the first 9 months of 2020
Although revenue declined, we note that the cost of sales surged during the period. Specifically, cost of sales was N103.94 billion compared to N70.65 billion recorded in the corresponding period of 2019. This was due to 95% increase in operational and maintenance expenses (N23.56 billion) and 59.4% increase in depletion, depreciation and amortisation (N33.75 billion).
