Oranto Petroleum developing vast potentials of Africa’s frontier oil, gas markets—Eze
… Farms into Zambian oil blocks
Pan-African explorer, Oranto Petroleum, promoted by Anambra State born investor, Prince Arthur Eze, on Thursday sealed a new deal with Zambian government to hold a 90 percent stake and ZCCM Investment Holdings and also control a 10 percent share, on behalf of the same government.
Under the agreement, Oranto Petroleum will hold a 90 percent stake and ZCCM Investment Holdings will control a 10 percent share, on behalf of the Zambian Government. The company will be required to conduct geological and geophysical studies for first two 2-year sub-periods.
Explaining more in an interview, Chairman of Oranto Petroleum, Prince Eze averred that “Oranto Petroleum is committed to an aggressive work program to increase the level of prospectivity in one of the world’s last true frontier markets,” saying “Our specialty at Oranto Petroleum is discovering the vast potential of Africa’s frontier oil and gas markets, and we are very pleased to add Zambia to our extensive portfolio. We are committed to developing Zambia into an oil and gas producing nation, as we have many times with other countries on the continent.”
Oranto Petroleum and its sister company, Atlas Petroleum International comprise the largest African independent by acreage, with active exploration and production programs across the continent, including Benin, Equatorial Guinea, Ghana, Liberia, Namibia, Nigeria, São Tomé and Príncipe, Senegal, South Sudan and Uganda.
Current operators in Zambia include Tullow Oil and Bowleven. Though only marginal finds have been discovered, the under-explored market shares basins with Tanzania to the northeast and Angola to the west — both of which have hosted mega oil and gas discoveries.
Business Hilights gathered that both Atlas Petroleum International and Oranto Petroleum currently represent Africa’s largest privately-held, Africa-focused exploration and production group. Our extensive footprint across the African continent includes 22 oil and gas licenses in 11 jurisdictions, including producing assets in Nigeria and Equatorial Guinea and numerous Atlas/Oranto-operated blocks.
Operating as sister companies in the West Africa region since 1991, Atlas and Oranto now operate throughout Africa, with regional offices and representatives in all our core investment locations.
