Pan-African independent explorer Atlas Oranto Group will play a prominent role at the upcoming U.S.-Africa Energy Forum (USAEF) 2021 in Houston, Texas, organized by Energy Capital&Power (ECP). Atlas Oranto will promote a series of farm-in, drilling and partnership opportunities, following the successful completion of initial seismic acquisition campaigns and mapping of drill-ready prospects. Equatorial Guinea - in which the Group holds interests in six blocks, including producing assets in Block I - presents a key market for continued exploration and development opportunities. With the confirmed attendance of H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea, USAEF 2021 will connect leading investment projects and licensing opportunities to U.S. operators, finance firms and service providers, on behalf of both the government and private sector players.
In Equatorial Guinea, the Group’s exploration portfolio is anchored by a production hub in Block I - home to the Aseng oil and gas condensate fields, as well as an extension of the Alen gas condensate field from Block O. The block currently produces 18,000 barrels of oil per day with 153 million cubic feet of gas reinjected per day, with new field development opportunities on the horizon. Blocks I and O are also the site of the multi-million-dollar Alen gas monetization project, which represents the first phase of Equatorial Guinea’s flagship Gas Mega Hub that seeks to pool stranded gas supply and develop gas-based downstream industries. In conjunction with block partners, Atlas Oranto has invested $350 million in the Alen backfill project that successfully achieved first gas last March.
“Our investment into Equatorial Guinea, Senegal, Uganda, Sao Tome, Nigeria and many African countries confirms Atlas Oranto as a strong African crude oil player but as a company that also sees the role of natural gas in Africa. We firmly believe that gas monetization is not only the key for Equatorial Guinea, Nigeria, Senegal ... but also for the whole of Africa. Atlas Oranto will continue to invest in gas monetization projects across the continent, including gas-to-power and the curbing of gas flaring,” said Prince Arthur Eze, Executive Chairman of Atlas Oranto.
As the Central African nation seeks to drive upstream investment, Atlas Oranto is leading exploration activities in Blocks EG-02 and H, in which extensive studies have suggested significant hydrocarbon prospects. Initial interpretation of a seismic survey on Block EG-02 has more similarities to discoveries in Blocks I and O in the Douala Basin, and the completion of key horizon mapping promises strong potential. Similarly, Atlas Oranto is seeking a partner to drill Block H, following extensive 3D seismic studies that show similar characteristics to the nearby producing Ceiba and Okume Complex. Atlas Oranto is also seeking farm-in partners to continue exploration efforts in Block J, which has undergone two seismic acquisition programs and lies directly adjacent to the gas-rich Block R. The Group has a commitment to drill one exploration well under its license terms and requires a farm-in partner to continue the work.
“Equatorial Guinea offers diverse geological potential, uniting proven and producing assets with underexplored, continental basins, which carry the potential to substantially add to the area’s reserves. In short, it is a unique market with both frontier and mature prospects, where operators are met with robust support from the State in establishing new onshore drilling plans,” said Francis Inniss, Senior Exploration Advisor to Atlas Oranto Group.
In Block P, the Group is leading a development plan, in conjunction with technical operator Vaalco Energy, to begin a drilling campaign on the Venus Production and Development Area with a two-well minimum that targets the SW Grande and Marte Prospects. Spanning approximately 1,200 km² in the Rio Muni Basin, the block lies 50-km north of the producing Ceiba and Okume fields. Additionally, the sand reservoirs in the Venus Field in Block P have been confirmed to be of the same type as other Rio Muni discoveries that carry proven reserves of around 500 million barrels of oil. Accordingly, the Venus Field is considered highly prospective and estimated to contain between 15-30 million barrels of recoverable resources.
Distributed by APO Group on behalf of Energy Capital&Power.To learn more about U.S.-Africa energy investment opportunities, find out more information regarding sponsorship opportunities at USAEF 2021, or register for the Houston summit, visit www.USAfricaEnergy.com or contact James Chester at james@energycapitalpower.com.
© Press Release 2021
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