Senegal has revoked the offshore exploration licence held by Atlas Oranto Petroleum, the Nigerian-owned oil and gas company founded by businessman Arthur Eze, after the firm failed to meet contractual and financial obligations tied to the licence.
The decision reflects Senegal’s growing resolve to enforce compliance in its energy sector and accelerate the development of hydrocarbon resources, as part of a wider trend across Africa to reclaim underutilised oil and gas rights.
Licence revoked over inactivity and unmet obligations
The Ministry of Energy and Petroleum, under Minister Birame Souleye Diop, withdrew the Cayar Offshore Shallow exploration licence in September 2025. Authorities said Atlas Oranto failed to provide required bank guarantees and conducted only minimal exploration activities since the block was awarded in 2008, despite multiple extensions.
The Cayar block, covering about 3,600 square kilometres north of Dakar, has been considered oil-prone but remains largely unexplored. While seismic surveys identified several potential oil leads, no drilling has taken place to date.
Industry sources reported that the licence witnessed little meaningful seismic or drilling activity during the period, prompting the government to reclaim the acreage.
Senegal joins Africa’s tightening regulatory wave
Senegal’s move is part of a broader shift across the continent, where governments are reassessing legacy oil and gas agreements signed during earlier exploration cycles. With mounting pressure to ensure that petroleum rights translate into investment and production, many African countries are cancelling licences that have remained dormant.
The decision aligns with President Bassirou Diomaye Faye’s administration’s push for stricter oversight and faster monetisation of Senegal’s oil and gas assets.
Atlas Oranto’s regional activities under scrutiny
The revocation has renewed attention on Atlas Oranto’s operations across West Africa, which have faced scrutiny over contract terms and transparency. In Liberia, however, the company has recently secured new agreements.
In September 2025, the Liberia Petroleum Regulatory Authority signed four production-sharing contracts with Atlas Oranto Petroleum International Ltd. for offshore Blocks LB-15, LB-16, LB-22 and LB-24 in the Liberian Basin. The deals included a signature bonus reported between $12 million and $15 million, and proposed investments exceeding $200 million per block.
Liberian officials said the agreements were aimed at reviving a petroleum sector that has seen little activity for more than a decade.
Senegal’s cancellation of the Cayar licence signals a stricter regulatory era in Africa’s energy sector, as governments push to ensure that exploration rights yield real economic returns.
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