South Sudan’s government has refused to renew the Exploration and Production Sharing Agreement held by Nigerian oil firm Oranto Petroleum for Block B3, citing a comprehensive review that found the company failed to meet key work programme commitments over the six-year contractual period.
The Ministry of Petroleum said its review concluded that Oranto did not complete required seismic surveys, did not fulfil the drilling commitments stipulated in the agreement, and failed to meet its financial obligations to the Government of South Sudan and related project commitments under the EPSA framework. “This decision follows a comprehensive review of Oranto’s performance under the EPSA over the six-year contractual period,” the Ministry said in its official statement.
Oranto Petroleum, alongside its sister company Atlas Petroleum International, is one of Africa’s most expansive privately held oil exploration groups, founded by Nigerian billionaire Prince Arthur Eze. The group holds more than 20 exploration licences spread across Uganda, Ghana, Liberia, Namibia, Nigeria, Senegal, and other countries, and has been an active player in frontier African exploration since the early 1990s.
With the EPSA terminated, Block B3 is now open for new applications. South Sudan’s Ministry of Petroleum said it is actively seeking interest from “serious and qualified international and regional oil and gas companies committed to timely exploration, compliance with contractual obligations, and long-term partnership” — signalling a deliberate recalibration toward operators with stronger track records of delivery in frontier environments.
Source: Champion News