Engr. Afolabi Abiodun Folorunso (FNSE, D.SC, D.BA) is the current
CEO/MD of FORMAT Hydrocabon Company Ltd, a family-owned oil and gas management
company; before this new role, he was the Managing Director, Seplat West Ltd.,
of Seplat Petroleum Development Plc. SEPLAT is a premium indigenous Oil and Gas
company in Nigeria with a robust and diverse asset base spanning the Eastern
and Western hubs of the Niger Delta. As Managing Director of Seplat’s Western
Asset, Engr Afolabi has championed improved cultural changes, produced water
management and in-field disposal, heavy oil development, lean well delivery
process, asset integrity management for life extension of ageing fields with
over 40 years of production, vigorous flare out strategy execution with over
150MMSCF/d of operational and installation-ready compression horsepower and
alternate crude evacuation strategies to stay ahead of repeated trunk line
outages. He demonstrated exceptional commercial acumen with his records of
continuously improving operational efficiency with continuous attendant
reduction of unit operating cost from a high value of 19USD/BOE in 2012 to as
low as 7.0usd/boe in 2021. The Western Assets enjoyed a renaissance under his
stewardship.
Before joining SEPLAT, he was a lead WRFM, and he was awarded the best
Coach and Mentor for over two years. He was also Gas Lift and Stimulation SME
for Shell Petroleum Development from 2010 to 2012.
Afolabi received a B.SC. Degree in Chemical Engineering (Shell, State
and Federal Government Scholar) from the Obafemi Awolowo University, Ile-Ife
and a PGD in Petroleum Engineering, Herriot Watt University, A honorary Doctor
of Science – from European American University and Doctor of Business
Management- from London School of Graduate. Afolabi has published several
technical papers on various subjects.