New Owner of Exxon’s Nigerian Onshore Assets to Boost Output

Nigerian firm Seplat Energy plans to revive output from hundreds of currently idle oil wells after completing the purchase of ExxonMobil’s onshore operations in the biggest African oil producer, senior Seplat executives told Bloomberg. After two years of regulatory checks and reviews, Nigerian authorities finally approved in October the $1.3-billion sale of Exxon’s onshore assets to Seplat. The Nigerian company, which is listed in Lagos and London, said on Thursday that had completed its acquisition of Mobil Producing Nigeria Unlimited…