Atlas Oranto Piles into Equaguinean Backfill Project

Pan-African oil and gas explorer Atlas Oranto Petroleum is planning to make a significant investment into Equatorial Guinea's backfill project, it said April 1.

With its partners in Block O and I, Noble Energy, Marathon Oil, Glencore and Gunvor, Atlas Oranto Petroleum expects to invest close to $350mn on pooling supply from stranded gas fields in Equatorial Guinea and the Gulf of Guinea now supplying the LNG terminal.

"Our investment into Equatorial Guinea will confirm Atlas Oranto as a strong African gas player," said CEO Arthur Eze. "We firmly believe that gas monetisation is not only key for Equatorial Guinea and Nigeria, but for the whole of Africa. Atlas Oranto will continue to invest in gas monetisation projects across the continent, including gas-to-power and the curbing of gas flaring."

Atlas and Oranto's footprint across the African continent includes 22 oil and gas licences in 11 jurisdictions, including producing assets in Nigeria and Equatorial Guinea.