My people, e don happen! Senegal government don fire wahala as dem revoke oil exploration license wey dem give Atlas Oranto Petroleum, business wey Nigerian billionaire Arthur Eze dey run. E be like say dem no wan carry last again, as dem dey tighten regulatory matter for oil and gas sector.
Dis koko happen because dem check say Atlas Oranto no fit deliver investments wey dem promise since 2008. Dem no collect bank guarantees, and e be like say dem only do small-small exploration, nothing serious. Senegalese Minister for Energy, Birame Soulèye Diop, don clarify sey dem go take back the Cayar Offshore Shallow block wey dey about 3,600 square kilometers. Good space for oil, but no well don hole since dem give dem the license!
Senegal don dey flex muscles, you go fit call am ‘Petroleum Discipline’ as dem dey show sey, if you no meet contract obligations, dem go take back wetin belong to dem without shaking. For this mad move, Senegal join other African nations wey dey redefine their oil and gas contracts; dem no wan keep land for speculations again o!
But wait oh, e no end there! Libera involve dey hot as Atlas Oranto still dey waka among dem with some new contracts wey dey throway hot gist. The Liberian Petroleum Regulatory Authority don sign four production-sharing contracts with dem, and people dey raise eyebrow about wetin dey happen, especially with the kind past wey Oranto don get in West Africa.
Critics dey talk say dis kind contracts fit spoil things for the economy. For the Liberian House of Representatives, some lawmakers don start to shout as dem dey fear say Oranto wahala for past fit repeat itself again. Some even dey shout sey e go bad if Liberia no manage dis contracts well.
Back to Senegal, dem dey try protect dia oil and gas sector from ghost moves wey no go turn to real investment. The way una see am, Senegal dey stress sey financial guarantees no be joke, and na im go fit show sey any license holder fit implement fully lay di groundwork for the exploration and development that oil sector dey need.
As this matter dey hot, e go be interesting to see how dis go shape the future of oil for West Africa and if Oranto fit clear dem name for other countries wey dem dey operate. With plenty eyes on dem, if dem no fit deliver on time, dem fit miss out on plenty juicy opportunities wey dey waka for di region.
Do you have a news tip for NNN? Please email us at editor @ nnn.ng
