Nigerian Oil mogul Prince Arthur Eze to build $800,000 school In South Sudan
Oranto Petroleum, the Pan-African oil exploration and production company owned by Nigerian multi-millionaire Prince Arthur Eze, is constructing two primary schools in Yirol and Rumbek communities in South Sudan.
Oranto, which has its headquarters in Nigeria, will spend more than $800,000 on the project as part of its Corporate Social Responsibility programmes. The construction will be handled by Dynamic Supplies and Construction Limited, an indigenous contractor.
“The construction of these two schools is a reflection of Oranto’s engagement to invest in social infrastructure in all areas where we operate in Africa,” Prince Arthur Eze, Founder and Executive Chairman of Oranto Petroleum said in a press statement. “Oil has to benefit all citizens and education is key to development. We are only going to see true peace and development in Africa when we leave no child behind and continue to invest in our human resources.”
Last year, South Sudan’s Ministry of Petroleum awarded the Exploration and Production Sharing Agreements for Block B3 to Oranto Petroleum. Oranto completed data acquisition on Block B3 in the second quarter of 2017 and is currently in the data interpretation stage. Block B3, which encompasses 24,415-square kilometer acreage, is believed to be highly prospective, with productive parts of the Muglad Basin to the northwest and estimated reserves in place of more than 3 billion barrels of oil.
Oranto Petroleum is one of Africa’s largest privately-owned exploration and production companies. The company owns 22 oil and gas licenses in 11 jurisdictions, including producing assets in Nigeria and Equatorial Guinea.