Pan-African Mining Company, Oranto Petroleum Invests in Zambian Oil Sector as Firm Seeks 90% Stake in Two of the Country’s Onshore Blocks

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Oranto Petroleum, a pan-African exploration and mining company, is farming into two exploration blocks located on Zambia’s shores. The areas, dubbed Blocks 17 and 27, represent Oranto’s first investment in the country.

“Oranto Petroleum is committed to an aggressive work program to increase the level of prospectivity in one of the world’s last true frontier markets,” said Oranto Petroleum Chairman, Prince Aurthe Eze,.

“Our specialty at Oranto Petroleum is discovering the vast potential of Africa’s frontier oil and gas markets, and we are very pleased to add Zambia to our extensive portfolio. We are committed to developing Zambia into an oil and gas producing nation, as we have many times with other countries on the continent,” he added in a recent statement.

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

Under the agreement, signed on June 28th, 2018, Oranto Petroleum will hold a 90% stake and mining company, ZCCM Investment Holdings will control a 10% share, on behalf of the Zambian Government. The company will be required to conduct geological and geophysical studies for first two 2-year sub-periods.

Current operators in Zambia include Tullow Oil and Bowleven. Though only 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.

Atlas Petroleum International and Oranto Petroleum represent Africa’s largest privately-held, Africa-focused exploration and production group. Their extensive footprint across the African continent includes 22 oil and gas licenses in 11 jurisdictions, including producing assets in Nigeria and Equatorial Guinea and numerous Atlas-Oranto-operated blocks.

Operating as sister companies in the West Africa region since 1991, Atlas and Oranto now operate throughout Africa, with regional offices and representatives in all their core investment locations.

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