Lagos-Nigerian oil producer Seplat Petroleum Tuesday announced plans to raise $500 mil- lion via a public offering of its shares on the Lagos and London Stock Exchanges to fund the acquisition of new onshore and offshore assets in Nigeria. Seplat, in which French independent energy firm Maurel & Prom is a partner, cur- rently operates three Niger Delta onshore oil fields which it bought from Shell in 2011. Oil Mining Leases 4, 38 and 41, were producing at average rates of 51,300 b/d as of the end of 2013, according to company data.
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