The Government of Senegal has revoked an offshore oil exploration permit previously held by a company owned by Nigerian billionaire businessman Arthur Eze.
The permit, for the Sangomar Deep block, was held by Pan African Corporation, an oil and gas firm founded by Eze. Senegal’s Ministry of Energy and Mines announced the decision, stating that the permit was withdrawn due to the company’s failure to meet contractual obligations, including exploration work commitments and timelines.
The Sangomar Deep block is located in a prospective offshore zone near Senegal’s significant Sangomar oil field, which began production in recent years. The revocation is part of the Senegalese government’s broader review of underperforming or inactive oil and gas licenses.
Arthur Eze, a prominent Nigerian industrialist and philanthropist, has significant investments across oil, agriculture, and real estate. His company has not yet issued an official public statement regarding the revocation.
Industry analysts suggest the move reflects Senegal’s stricter enforcement of exploration deadlines as it seeks to accelerate development of its hydrocarbon resources.
Disclaimer: This report is based on available news sources and official statements. CDA News Nigeria does not claim ownership of the original reporting.
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