-
Senegal revokes offshore oil exploration licence held by Arthur Eze’s Atlas Oranto Petroleum.
-
Licence withdrawn over failure to meet financial, operational and exploration obligations.
-
Government moves to tighten regulation and accelerate hydrocarbon development.
The Senegalese government has revoked an offshore oil exploration licence held by Atlas Oranto Petroleum, a company owned by Nigerian billionaire Arthur Eze, over prolonged non-compliance with regulatory requirements.
The decision affects the Cayar Offshore Shallow exploration block, located north of Dakar, which was awarded to Atlas Oranto in 2008 but remained largely undeveloped despite several extensions granted by authorities.
ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!
Senegal’s Ministry of Energy and Petroleum said the revocation followed the company’s failure to provide required bank guarantees and conduct meaningful exploration activities on the block.
Although seismic surveys identified potential hydrocarbon prospects, no exploratory wells were drilled throughout the licence period.
The revocation was finalised in September 2025 under the supervision of Energy and Petroleum Minister Birame Souleye Diop, with industry sources confirming that the asset saw minimal operational progress.
Authorities said the move aligns with President Bassirou Diomaye Faye’s broader reforms aimed at enforcing stricter compliance standards in the energy sector and ensuring that petroleum licences translate into real investment, drilling and production.
Following the revocation, Senegal has taken back control of the acreage as part of efforts to fast-track commercial exploitation of its hydrocarbon resources and discourage speculative holding of oil blocks.
The development has also drawn attention to Atlas Oranto’s wider regional operations, including its acquisition of multiple offshore blocks in Liberia in 2025.
As of the time of filing this report, the company had yet to issue an official response to Senegal’s decision.
For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
