Senegal Revokes Offshore Exploration License Held By Nigerian Billionaire, Arthur Eze
The Senegalese government has revoked offshore exploration rights held by Atlas Oranto Petroleum, a privately owned upstream oil and gas firm founded by Nigerian energy entrepreneur Arthur Eze, reinforcing a tougher regulatory approach toward long-stalled licences. The g overnment revoked the Cayar Offshore Shallow exploration licence after determining that Atlas Oranto Petroleum, the holder, had failed to provide the required bank guarantees and carried out only minimal exploration work since the block was awarded in 2008, despite multiple extensions. The block, covering approximately 3,600 square kilometres north of the Dakar peninsula, is considered oil-prone but underexplored, with several leads identified through seismic surveys but no wells drilled to date. Under the supervision of Minister Birame Souleye Diop, the Ministry of Energy and Petroleum formally withdrew the licence in September 2025, citing the company’s repeated failure to meet financial and contractual obligations. ...