Atlas Oranto Petroleum International Limited (AOPI), comprised of Atlas Petroleum International Limited and Oranto Petroleum International Limited, has expanded its global operations by signing an oil prospecting agreement in Venezuela.
The agreement was signed by Prince Arthur Eze, Chairman of Oranto Petroleum Limited, in the presence of Venezuelan President Nicolas Maduro. This marks the beginning of the company’s expansion into the North and South American markets.
Prior to the Venezuelan deal, Oranto Petroleum has been a significant player in the oil sector across various African countries, including Côte d’Ivoire, Senegal, Uganda, and Mozambique.
In a recent development, Uganda extended Oranto Petroleum’s oil exploration license by two years, beyond the initial expiration date of December 29, 2023. This license pertains to the Ngassa Shallow and Deep areas in the western Hoima and Kikuube districts. Oranto Petroleum had originally been granted these exploration licenses in 2017.
In another notable achievement, Atlas Petroleum International Limited announced the Venus oil discovery in Block P, Equatorial Guinea, in collaboration with its partners Vaalco (the Operator) and Guinea Ecuatorial de Petroleós Co. (GEPetrol), the state-owned oil company representing the interests of Equatorial Guinea.
The joint venture is set to acquire, convert, and install oil production infrastructure over the next three years. The Venus field activities are anticipated to contribute 23.1 million barrels of oil (MMbbl) of 2P gross reserves, with production expected to reach approximately 15,000 barrels per day (b/d) of oil upon completion of the two development and injector wells.
In a statement regarding the Block P Venus discovery Plan of Development (POD) in Equatorial Guinea, Vaalco Energy, Inc. affirmed Atlas Petroleum’s ongoing participation in the project. The statement clarified that Atlas Petroleum remains an active investor with a participating interest in Block P, and any claims suggesting otherwise are inaccurate.
Atlas Petroleum emphasized its commitment to the project, stating that it has not relinquished any part of its interest in Block P and intends to continue its involvement. The company also urged its partners to avoid making misleading assertions and reiterated its ongoing communication with the government and GEPetrol, denying any cancellation of its Production Sharing Contract (PSC) or interest.
Related topics: