Senegal has cancelled an oil exploration
license owned by Atlas Oranto Petroleum, a company founded by Nigerian billionaire Arthur Eze.
The Senegalese government said the company did not meet key rules tied to the oil block. Officials explained that Atlas Oranto failed to provide required bank guarantees and carried out very little exploration work, even after getting several deadline extensions.
The offshore oil block, located north of Dakar, was given to the company in 2008. Despite studies showing oil potential, no drilling was done over the years.
Under the leadership of Energy Minister Birame Souleye Diop, the license was officially withdrawn in September 2025. Senegal has now taken full control of the oil field.
This action is part of President Bassirou Diomaye Faye’s plan to tighten control of the energy sector and ensure oil licenses lead to real investment, not inactivity.
So far, Atlas Oranto has not reacted publicly to the decision.
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