Arthur Eze’s Atlas Oranto Petroleum Wins Four Offshore Exploration Blocks in Liberia, Boosting West Africa’s Oil Sector
Nigerian billionaire Prince Arthur Eze has secured four offshore exploration blocks in Liberia through his company, Atlas Oranto Petroleum Limited, marking a significant milestone for Liberia’s long-stalled energy sector.
The Liberia Petroleum Regulatory Authority (LPRA) and Atlas Oranto Petroleum International Ltd. signed four Production Sharing Contracts (PSCs) in Paris — Liberia’s first major upstream oil agreements in over a decade.
The contracts, issued under the Petroleum (Exploration and Production) Law of Liberia, will take effect once ratified by the National Legislature and approved by Liberian President Joseph N. Boakai.
Strategic Offshore Developments
The agreements cover offshore Blocks LB-15, LB-16, LB-22, and LB-24 in the Liberian Basin. They include a $12 million signature bonus and planned investments exceeding $200 million per block.
LPRA Director-General Marilyn T. Logan described the deal as a “turning point” for Liberia’s petroleum industry.
“Atlas Oranto’s entry into Liberia underscores the country’s vast hydrocarbon potential and our commitment to ensuring African companies play a central role in our upstream programme,” Logan said. She added that the contracts would create jobs, build local capacity, and facilitate the transfer of technical expertise.
Atlas Oranto’s African Expansion
Atlas Oranto is one of Africa’s largest privately owned oil and gas firms, operating in more than 20 countries.
Its Executive Chairman, Prince Arthur Eze, described the Liberian agreement as a long-term partnership.
“We are proud to join Liberia at this historic moment. We view Liberia not just as an investment destination but as a partner for success,” Eze said.
The agreements mark a critical step for Liberia, whose ambition to develop offshore oil reserves has faced delays for years due to political uncertainty and global oil price volatility.
Liberian officials say the deal will help diversify the economy, which remains heavily dependent on iron ore, rubber, and gold.
At the signing ceremony in Paris, President Boakai emphasized transparency and accountability, stating:
“Our goal is to ensure Liberia’s resources are managed responsibly, with strong environmental safeguards, local participation, and clear benefits for Liberians.”
Historical Context and Future Outlook
Atlas Oranto currently operates in 22 countries, including Equatorial Guinea, Senegal, South Sudan, Uganda, São Tomé and Príncipe, and Zambia.
In 2010, Prince Eze acquired three oil blocks in Liberia for $200,000 each and sold them to Chevron the same year for over $250 million, a landmark transaction in West Africa’s energy sector.
With the latest PSCs, Atlas Oranto strengthens its footprint across Africa while extending its reach into new frontier energy markets, reaffirming Prince Eze’s role as a leading figure in African oil and gas development.
