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$87.3 million raised for rig contract

Australian explorer African Petroleum has revealed it will use the A$85 million (US$87.3 million) raised in a new share placement to contract an additional oil rig to develop its African assets.

Eirik Raude: African Petroleum plans to use Ocean Rig's semi-submersible, pictured here, for a two-well programme offshore Liberia at the end of the year
Eirik Raude: African Petroleum plans to use Ocean Rig's semi-submersible, pictured here, for a two-well programme offshore Liberia at the end of the year
Published 24 July 2012, 03:03Updated 11 October 2016, 09:28