Nigerian independent Oranto Petroleum has kicked off a “comprehensive” exploration campaign in South Sudan after being awarded a block in the oil-rich but war-torn country.
The company has won a 90% stake in Block B3, with state player Nile Petroleum to hold the remaining 10% under an exploration production sharing agreement signed in the capital Juba on Monday.
Oranto said it will plough $500 million into its exploration drive, which will involve the acquisition of 2D seismic and the completion of a further airborne geophysical survey over the 25,150-square-kilmoetre tract.
The
