… Africa spread sets it up to drive economic growth
By Ben Eguzozie.
Atlas Oranto, Nigeria’s largest privately-held and Africa-focused exploration and production company is poised to play a pivotal role in shaping Africa’s energy landscape and drive the continent’s economic growth.
For its part, Atlas Oranto understands the untapped resource wealth that Africa holds, particularly in offshore hydrocarbon exploration. The Nigerian Africa-focused company’s production assets currently produce 18,000 barrels of oil per day, and the group anticipates this figure to significantly increase due to already scheduled development drilling.
The exploration upside of its portfolio offers billion-barrel drill-ready prospects across many licences, providing tremendous potential for future growth. Across the continent, the company is committed to sustainability, investing in oil and gas, utilising its expertise and innovation to deliver successful projects that prioritise environmental sustainability.
In Equatorial Guinea, Atlas Oranto has identified Block H as highly prospective after completing Phase 1 of the Production Sharing Contract (PSC). The group seeks a partner to undertake drilling activities and explore the highly promising Aleta prospect.
In South Sudan, the group holds exploration rights for Block B3 through a six-year exploration contract awarded in 2017. The company is also actively carrying out new data acquisition and technical studies in this region.
Atlas Oranto entered the São Tomé and Principe/Nigeria Joint Development Zone in 2012 through Block 5, further strengthening its presence in the region. In Uganda, the Ngassa project, awarded in 2017, holds significant potential. The company envisions utilising specialised drilling rigs for exploration in Lake Albert.
Additionally, the company holds stakes in two offshore blocks in Senegal: Cayar Shallow and St. Louis Shallow. The Cayar Shallow block, located north of the Dakar peninsula, has 13 mapped leads and is estimated to be oil-rich, with the potential for individual trap sizes of several hundred million barrels of oil in place. Its close proximity to the coast enhances the viability of commercial discoveries. On the other hand, the St. Louis Shallow Block, adjacent to Cayar Shallow, offers geological conditions similar to those in the oil-rich Guyana Basin.
Through a 20-year PSC, Atlas Oranto possesses a 70% ownership interest in OML 109 in Nigeria’s western Niger Delta. In July 2020, the company re-commenced operations involving workover and well intervention on the block with the aim of enhancing production from the Ejulebe marginal field. OML 109 encompasses 14 identified and mapped prospects and leads, boasting an estimated resource potential exceeding 500 million barrels of oil equivalent. The block’s strategic location in shallow waters and its proximity to established infrastructure like the Escravos Terminal offer an advantageous and cost-effective operating environment.
Focusing on offshore blocks in Nigeria such as OML 109, OPL 293, and OPL 320, Atlas Oranto seeks to collaborate with technical operators to fast-track the development of large-scale exploration and appraisal prospects. The group’s vision aligns with creating lasting value for Africa and its people, while fostering local content development and supporting sustainable growth in the regions where they operate.
According to NJ Ayuk, executive chairman of the African Energy Chamber (AEC), Atlas Oranto’s unwavering commitment to the African continent’s energy security, sustainability and local content development has left a lasting impact.
“As a prominent player in Africa’s energy sector, [Atlas Oranto’s] strategic approach to responsible exploration practices and their strong partnerships with African nations exemplify the critical role private companies can play in shaping a more sustainable and prosperous energy landscape in Africa. As the continent continues to strive for energy independence and self-reliance, companies like Atlas Oranto serve as catalysts for change, championing innovation and contributing significantly to the socioeconomic development of Africa,” Ayuk said.
The hydrocarbon group has joined the African Energy Week (AEW) conference – scheduled for October 16–20 in Cape Town – as a diamond sponsor.
With an extensive presence across the African continent and a total of 22 oil and gas licences in 12 jurisdictions, Atlas Oranto is at the forefront of the African petroleum sector, and will drive the discussion around sustainable investments during the conference this October.
