Senegal Revokes Arthur Eze’s Oil Licence over Unmet Operational, Financial Commitments

Peter Uzoho

Senegalese authorities have revoked offshore exploration rights held by Atlas Oranto Petroleum, a privately-owned upstream oil and gas firm founded by Nigerian energy entrepreneur, Arthur Eze, reinforcing a tougher regulatory approach toward long-stalled licences.

The decision aligns with Senegal’s commitment to enhance regulation in its energy sector and rapidly monetize hydrocarbon resources.

Business Insider Africa reported that Senegal revoked the offshore exploration rights due to unmet operational and financial commitments. This action represents a part of a broader trend in Africa to reclaim underutilised oil and gas licenses.

Atlas Oranto’s activities in other regions, like Liberia, have also attracted scrutiny over contract terms and transparency concerns.

The Senegalese government revoked the Cayar Offshore Shallow exploration licence after determining that Atlas Oranto Petroleum, the holder, had failed to provide the required bank guarantees and carried out only minimal exploration work since the block was awarded in 2008, despite multiple extensions.

The block, covering approximately 3,600 square kilometres north of the Dakar peninsula, is considered oil-prone but underexplored, with several leads identified through seismic surveys but no wells drilled to date.

Under the supervision of Minister Birame Souleye Diop, the Ministry of Energy and Petroleum formally withdrew the licence in September 2025, citing the company’s repeated failure to meet financial and contractual obligations.

According to the report, industry accounts referenced in early 2026 confirm that the block saw little meaningful seismic or drilling activity during the licence period.

Senegal’s government has reclaimed control of the acreage, framing the decision as part of a broader effort to enforce compliance and implement stricter screening of petroleum rights holders under President Bassirou Diomaye Faye’s administration.

By reclaiming the block, Senegal joins a growing number of African producers reassessing legacy oil and gas contracts signed during earlier exploration cycles.

Governments across the continent are under increasing pressure to ensure that petroleum rights translate into investment, drilling and production rather than being held for speculative or financial optionality.

Senegal’s decision has drawn renewed attention to Atlas Oranto’s wider regional footprint, where its execution record has faced scrutiny in several jurisdictions. In Liberia, developments in 2025 illustrate a contrasting regulatory posture.

In September, Business Insider Africa reported that the Liberia Petroleum Regulatory Authority signed four production-sharing contracts with Atlas Oranto Petroleum International Ltd. covering offshore Blocks LB-15, LB-16, LB-22 and LB-24 in the Liberian Basin.

The agreements included a signature bonus reported at between $12 million and $15 million, alongside proposed investments exceeding $200 million per block.

Liberian authorities presented the deals as a bid to revive a petroleum sector that has seen little activity for more than a decade.