Nigerian billionaire and oil mogul Arthur Eze is once again making big moves on the global energy stage.  His company, Atlas Oranto Petroleum Limited, has signed a landmark $800 million deal with the Liberian government, securing four offshore oil blocks in the country.

The agreement, sealed in Paris, comes just months after Atlas Oranto made headlines with a major oil venture in Venezuela. With this latest move, Eze is strengthening his grip as one of Africa’s most influential oil entrepreneurs.

What the deal is all about

The deal between Atlas Oranto and the Liberia Petroleum Regulatory Authority (LPRA) marks the first major oil exploration agreement in Liberia in more than a decade. 

Four Production Sharing Contracts (PSCs) were signed, covering Blocks LB-15, LB-16, LB-22, and LB-24 in the Liberian Basin.

The contracts include a $12 million signature bonus and more than $200 million of planned investment per block. However, they will only take effect once approved by Liberia’s National Legislature and signed into law by President Joseph N. Boakai.

Liberia’s petroleum regulator, Marilyn T. Logan, described the deal as a “turning point” for the country, saying it would not only attract more foreign investment but also create jobs, build local expertise, and boost the struggling economy.

Arthur Eze’s vision

For Arthur Eze, this is more than just another oil contract. He described the deal as a long-term partnership with Liberia, stressing that Atlas Oranto sees the country “not just as an investment destination but as a partner for success.”

Atlas Oranto is already one of the largest privately-owned oil and gas companies in Africa, with operations in over 22 countries, including Nigeria, Equatorial Guinea, South Sudan, Uganda, and Senegal.

This new venture in Liberia shows Eze’s ambition to not only dominate African oil exploration but also expand into global energy markets, following the company’s recent deal with Venezuela.

Liberia’s push for economic diversification

Liberia, Africa’s oldest republic, has long relied on natural resources like iron ore, rubber, and gold. 

The government hopes that foreign investment in oil exploration will help diversify its economy and reduce overdependence on traditional exports.

At the Paris signing ceremony, President Boakai emphasized the importance of transparency and environmental responsibility in managing the country’s oil resources. 

He promised that the contracts would be implemented with strict accountability, local participation, and strong environmental safeguards.

Atlas Oranto’s Growing Footprint

Founded in 1991, Atlas Oranto has become the largest holder of oil exploration blocks in Africa. 

The company’s history in Liberia goes back to 2010, when it acquired three oil blocks for just $200,000 each before later selling them to Chevron for more than $250 million.

With this new $800 million deal, Atlas Oranto is making a comeback in Liberia, this time with a more ambitious approach that could reshape the country’s oil sector.