Oranto Petroleum will invest $500 million to develop South Sudan\u2019s Block
\nB3, launching a comprehensive exploration campaign starting immediately.<\/p>\n
The Ministry of Petroleum and Oranto Petroleum Company, South Sudan signed
\nthe exploration and production sharing agreement for the block today in
\nJuba.<\/p>\n
The B3 area covers 25,150 square kilometers. Some aeromagnetic and seismic
\ndata have been acquired for the area but no wells have been drilled. The
\nblock is highly prospective, with productive parts of the Muglad Basin to
\nthe northwest and estimated reserves in place of more than 3 billion
\nbarrels of oil. The block is categorized as low risk, high reward.<\/p>\n
Under the EPSA, Oranto will be the technical operator and 90% shareholder
\nof the block, with Nilepet holding a 10% stake.<\/p>\n
\u201cWe believe the petroleum resources of Block B3 are vast. To reach our
\ntarget of more than double current oil production, we need committed new
\nentrants like Oranto,\u201d said Minister of Petroleum Ezekiel Lol Gatkuoth.<\/p>\n
“The government is working hard to reinvigorate the petroleum industry in
\nSouth Sudan by creating an enabling environment for International oil and
\ngas companies to invest and operate. It is up to the oil companies to come
\nin, explore and produce.\u201d<\/p>\n
\u201cIt\u2019s an honor to formalize our entry into South Sudan with this EPSA,\u201d
\nsaid Prince Arthur Eze, Founder and Chairman of Oranto Petroleum. \u201cOur
\ncompany is at the vanguard of African firms exploring and developing
\nAfrican assets. This is the beginning of a long-term collaboration with
\nNilepet, the people of South Sudan and our partners to bring to light the
\nimmense potential of Block B3. Oranto is committed to an aggressive
\nexploration work program that will benefit all stakeholders.\u201d<\/p>\n
The 120,000-square kilometer Block B was split by the government into the
\nB1, B2 and B3 blocks in 2012. In Block B3 Oranto will work alongside the
\nB1 and B2 partners, which include Total. During the first three-year
\nexploration period Oranto will complete a further airborne geophysical
\nsurvey; acquire and process 2D seismic; and assess existing data held by
\nthe government and former operators. The EPSA contract was facilitated by
\npan-African law firm Centurion Law Group. South Sudan is an established,
\nworld-class petroleum producing region, whose territory includes a large
\npart of the Cretaceous rift basin system that has proved petroliferous in
\nChad and Niger as well as Sudan.<\/p>\n
Atlas Petroleum International and Oranto Petroleum, the sister companies
\nof the Atlas Oranto Group, own and operate 20 oil and gas acreages in 10
\nAfrican countries: Benin, C\u00f4te d\u2019Ivoire, Equatorial Guinea, Ghana,
\nLiberia, Namibia, Nigeria, S\u00e3o Tom\u00e9 and Pr\u00edncipe, Senegal and South Sudan.
\nFounded in Nigeria in 1991, the group is Africa\u2019s largest indigenous
\nexplorer by acreage. Learn more at<\/p>\n","protected":false},"excerpt":{"rendered":"
Oranto Petroleum will invest $500 million to develop South Sudan\u2019s Block B3, launching a comprehensive exploration campaign starting immediately. The Ministry of Petroleum and Oranto Petroleum Company, South Sudan signed…<\/p>\n","protected":false},"author":1,"featured_media":56568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-56567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\n