Oranto Petroleum holds Zambian oil blocks

oranto zambiaPan-African oil and gas explorer Oranto Petroleum is farming into two exploration blocks located onshore Zambia, the Blocks 17 and 27 representing Oranto’s first investment in the country

Aurthe Eze, chairman of Oranto Petroleum, noted that the company focuses on discovering the vast potential of Africa’s frontier oil and gas markets.

“We are committed to developing Zambia into an oil and gas producing nation, as we have many times with other countries on the continent,” Eze said.

Oranto Petroleum and its sister company Atlas Petroleum International comprise the largest African independent by acreage, with active exploration and production programmes across the continent, including Benin, Equatorial Guinea, Ghana, Liberia, Namibia, Nigeria, São Tomé and Príncipe, Senegal, South Sudan and Uganda.

Under the terms of the agreement, Oranto Petroleum will hold a 90 per cent stake and ZCCM Investment Holdings will control a 10 per cent share, on behalf of the Zambian government. The company will be required to conduct geological and geophysical studies for first two two-year sub-periods.

Current oil and gas operators in Zambia include Tullow Oil and Bowleven. Though the marginal finds have been discovered, the under-explored market shares basins with Tanzania to the northeast and Angola to the west — both of which have hosted mega oil and gas discoveries.

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