By Dipo Olowookere

A company owned by Nigerian business mogul, Mr Arthur Eze, Oranto Petroleum, has secured oil blocks in the Republic of Niger.

A statement released by Oranto Petroleum Ltd disclosed that the Ministry of Petroleum of Niger has granted the oil firm access to explore oil Blocks R5, R6, Dibella and Dallol, which are located in the Agadem Rift Basin.

The deal signed by both parties outlines its intention to sign production sharing contracts on Blocks R5, R6, Dibella and Dallol in the Tenere and Agadem Basins in Niger.

According to the agreement signed in September between Mr Eze, Chairman of Oranto Petroleum, and Mr Foumakoye Gado, Minister of Petroleum of Niger, Oranto Petroleum is to receive all technical data on the blocks.

After a satisfactory review of the technical data, Oranto Petroleum will be granted the blocks under the terms outlined in the country’s petroleum code and as determined by the Ministry of Petroleum.

Blocks R5 and R6 border Savannah Petroleum’s Blocks R1 and R2 have boasted several discoveries of oil in recent years. The Agadem Rift Basin, in southeast Niger, was explored by the China National Petroleum Corporation, which made 97 discoveries from 127 exploration wells throughout the area.

“We greatly look forward to working with the government of Niger Republic as the country seeks to build its oil and gas portfolio.

“As a leading African independent with an expertise in frontier exploration, we believe the potential of Blocks R5, R6, Dibella and Dallol has yet to be fully explored, and we are eager to get to work,” said Mr Eze.

Business Post reports that recently, the Nigerian government renewed the licence it granted Oranto Petroleum to operation an oil block in the country.

https://www.businesspost.ng/2018/10/30/niger-republic-gives-oil-blocks-to-nigerias-oranto-petroleum/