Amidst the ripples of a global health crisis, Uganda has made a strategic move in the energy sector by granting Nigeria’s Oranto Petroleum Ltd. a two-year extension on its oil-exploration license.
Oranto Petroleum, a Nigerian independent energy company founded by Prince Arthur Eze has, on 22 December 2023, been granted a two-year exploration license extension to its Ngassa Deep and Ngassa Shallow exploration contract areas in Uganda. This extension allows Oranto to drill an exploration well and an appraisal well, depending on the success of the exploration well.
In 2017, Oranto was granted two petroleum exploration licenses for the Ngassa Deep and Ngassa Shallow contract areas by the Ministry of Energy and Mineral Development in Uganda.
Oranto signed this current extension and committed to maximize the additional time granted and ensure a successful outcome. Oranto’s chairman, Prince Arthur Eze, said: “We thank the Ugandan government under the leadership of President Yoweri Museveni, the Ministry and the people of Uganda. This extension is very important, as it will contribute towards increasing Uganda’s oil volumes. We appreciate the extension, and want to assure the Ministry that we will fulfil the work program as planned within the designated period.”
The Ngassa Block is located in the Hoima District and spans the Albertine Graben.
Oranto and its sister company Atlas Petroleum are Africa’s largest privately-held exploration and production group by acreage.
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