Atlas Oranto Petroleum International Limited (AOPI), comprised of Atlas Petroleum International Limited and Oranto Petroleum International Limited, an oil and gas company specializing in oil drilling, has signed an oil exploration contract in Venezuela, expanding its global reach.
Prince Arthur Eze, chairman of Oranto Petroleum Limited, who recently signed the contract in the presence of Venezuelan President Nicolás Madura, said this marks the beginning of the company’s expansion into North and South America.
Prior to the Venezuela agreement, Oranto Petroleum was a major player in the oil sector in countries such as Côte d’Ivoire, Senegal, Uganda, and Mozambique.
Last year, Uganda extended the oil exploration license for Oranto Petroleum by two years beyond the expiry date of December 29, 2023, of the original agreement for the Ngassa shallow and deep areas in West Hoima and Kikuube districts, signed in 2017. In 2017, Oranto was awarded two oil exploration licences in Uganda for the Ngassa Deep and Ngassa Shallow contract areas. Atlas Petroleum International Limited, together with its partners, operator Vaalco and the National Oil Company of Equatorial Guinea (GE Petrol), announced the discovery of the Venus field in Block P of Equatorial Guinea province.
The joint venture plans to acquire, modify, and install oil production infrastructure over the next three years. Activities in the Venus field are expected to add 23.1 million barrels of oil to 2P’s total reserves. The partners expect oil production from the field to reach approximately 15,000 gross barrels of oil per day upon completion of two development and injection wells.
Statement from Vaalco Energy, Inc. Regarding the Block P Venus Discovery and Development (POD) in Equatorial Guinea, Atlas Petroleum, as a legacy investor in Equatorial Guinea, was already a partner in Block P prior to Vaalco’s entry into Block P and remains an active investor. Any claims to the contrary by Vaalco or any other company are false, outrageous and misleading.
“Atlas has not relinquished any part of its interest and does not intend to walk away from Block P. Any assertion by a company that has decided to drill and develop an oil field in the media are wrong. We know work is done on platforms not with the media and we urge our partners to refrain from this. We are in constant communication with the government and have never received a letter from the government or GEPetrol that our PSC and interest have been canceled.”
