Decries Selective Attack Upon Investing Over $45m in Project
Following a recent wrong media narrative put out by the government of Senegal on the offshore exploration rights of Atlas Oranto Petroleum, belonging to Nigerian billionaire, Engr. Prince Arthur Eze, the company’s head office in Abuja has released a statement to put the record straight.
In a statement made available to Business Hilights, the oil giant made it clear that the wrong narrative being spread across the media that Senegal revoked the offshore exploration rights of Atlas Oranto Petroleum due to unmet operational and financial commitments, was misleading, incorrect and false.
The statement said “Oranto Petroleum would like to use this opportunity to respond to the false narrative currently being perpetuated by the Government of Senegal on the St Louis & Cayar Offshore Licenses previous operated by Oranto Petroleum. As a matter of fact, Oranto Petroleum in 2025 decided to suspend any further investments in the St Louis & Cayar Licenses in Senegal after the Government of Senegal insisted on US$ 25 Million Bank Guarantee as against agreed Corporate Guarantee as being provided by other Operators in Senegal.
“For record purposes, till date, Oranto Petroleum has committed over US$45 Million in expenditures in Senegal covering activities such as seismic acquisition & interpretation, acreage rental, social projects and training of Senegalese locals as stipulated in the contract. These records exist and can be fact checked.
“It is worth mentioning that for reasons best known to the Government of Senegal, Oranto Petroleum has been singled out in this false narrative – this we classify as unfair, unjustified and targeted. We would like to use this opportunity to state that other foreign entities operating in Senegal are also facing challenges doing business in Senegal and this calls for concern.
Some of those include:
- Woodside currently in court of Arbitration with Government of Senegal on issues bothering around back costs for the Sangomar Development –
https://www.africabusinessplus.com/en/829378/woodside-vs-dakar-arbitration-proceedings-canbegin/
- Alleged plans by the Government of Senegal to nationalise Kosmos-run Yakaar-Teranga Gas
- British Petroleum’s exit from Senegal over disagreement with Government – https://www.offshoretechnology.com/news/bp-exits-senegal-gas-field/
“It is worth noting that Oranto Petroleum remains a foremost player in Hydrocarbon Exploration in Africa having committed over US$500 Million in exploration and development of hydrocarbon in Africa. Oranto
“Petroleum as per business model remains an early explorationist focused on acreage derisking and later stage development in collaboration with third party Operators.
Oranto Petroleum remains respectful for the rule of law in all jurisdictions where it operates and urges the public to disregard any narratives that continuously focuses on demarketing African investment opportunities geared towards the greater good of Africa and her citizens”, Oranto Petroleum noted.
