ABUJA/Nigeria: Oranto Petroleum, a prominent Nigerian independent energy company owned by Prince Arthur Eze, has clinched a significant victory on December 22, 2023.
The company secured a substantial two-year extension to its Ngassa Deep and Ngassa Shallow exploration contract areas in Uganda. This extension marks a pivotal moment, granting Oranto the opportunity to conduct an exploration well along with an appraisal well, contingent upon the success of the exploration endeavor.
Back in 2017, Oranto was initially granted two petroleum exploration licenses for the Ngassa Deep and Ngassa Shallow contract areas by Uganda’s Ministry of Energy and Mineral Development.
In sealing this latest extension, Oranto pledged its dedication to optimizing the additional timeframe and ensuring a prosperous outcome. Prince Arthur Eze, the chairman of Oranto, expressed gratitude, stating, “We thank the Ugandan government under the leadership of President Yoweri Museveni, the Ministry, and the people of Uganda. This extension is very important, as it will contribute towards increasing Uganda’s oil volumes. We appreciate the extension and want to assure the Ministry that we will fulfill the work program as planned within the designated period.”
Situated in the Hoima District, the Ngassa Block spans across the Albertine Graben, a region of strategic importance for exploration and production endeavors.
Oranto Petroleum, in conjunction with its sister company Atlas Petroleum, stands as Africa’s foremost privately-held exploration and production group in terms of acreage. Their joint efforts signify a commitment to advancing energy exploration and bolstering production capabilities across the continent.
