Oranto Petroleum, owned by Nigerian billionaire Arthur Eze, has clarified its suspension of further investments in Senegal锟絪 St Louis & Cayar offshore licenses, following the government锟絪 revocation of its exploration license in January 2026. The company claims the Senegalese government insisted on a $25 million bank guarantee, contrary to the corporate guarantee accepted from other operators. Oranto asserts it has invested over $45 million in Senegal, including seismic work, rentals, and social projects, and over $500 million across Africa. It accuses Senegal of unfair targeting and spreading false narratives, noting that other foreign operators also face challenges in the country.
*Says it has committed over US$45m in expenditures in Senegal
The management of Oranto Petroleum, the firm owned by Nigerian billionaire and philanthropist, Prince Arthur Eze, has clarified its suspension of any further investments in the St Louis & Cayar Licenses in Senegal.
The Senegalese government had in January 2026 officially revoked an offshore oil exploration license held by Atlas Oranto Petroleum.
The Senegalese government alleged the holder had failed to provide the required bank guarantees and carried out only minimal exploration work since the block was awarded.
Responding to the revocation of the license, the management of Oranto Petroleum declared the government of Senegal insisted on US$ 25 million Bank Guarantee as against agreed Corporate Guarantee as being provided by other operators in Senegal.
According to the management, 锟絫ill date, Oranto Petroleum has committed over US$45 million in expenditures in Senegal covering activities such as seismic acquisition & interpretation, acreage rental, social projects and training of Senegalese locals as stipulated in the contract.
锟絆ranto Petroleum remains a foremost player in Hydrocarbon Exploration in Africa having committed over US$500 million in exploration and development of hydrocarbon in Africa.锟�
The company expressed reservations on why the Senegalese government will single it out for false narratives which it classified as 锟絬nfair, unjustified and targeted.锟�
Part of the statement read: 锟絆ranto Petroleum would like to use this opportunity to respond to the false narrative currently being perpetuated by the Government of Senegal on the St Louis & Cayar Offshore Licenses previously operated by Oranto Petroleum.
锟紸s a matter of fact, Oranto Petroleum in 2025 decided to suspend any further investments in the St Louis & Cayar Licenses in Senegal after the Government of Senegal insisted on US$ 25 million Bank Guarantee as against agreed Corporate Guarantee as being provided by other operators in Senegal.
锟紽or record purposes, till date, Oranto Petroleum has committed over US$45 million in expenditures in Senegal covering activities such as seismic acquisition & interpretation, acreage rental, social projects and training of Senegalese locals as stipulated in the contract. These records exist and can be fact checked.
锟絀t is worth mentioning that for reasons best known to the Government of Senegal, Oranto Petroleum has been singled out in this false narrative 锟� this we classify as unfair, unjustified and targeted.
锟絎e would like to use this opportunity to state that other foreign entities operating in Senegal are also facing challenges doing business in Senegal and this calls for concern.