Sierra Leone Positions for West African Oil Breakthrough
Sierra Leone is banking on results from its first offshore 3D seismic survey in over a decade to potentially launch its next oil and gas licensing round later this year, as the West African nation seeks to establish itself as an emerging exploration frontier.
Consultancy GeoPartners began the six-week seismic survey last month in partnership with the government’s petroleum directorate, aiming to de-risk exploration in Sierra Leone’s offshore basin and boost the country’s credentials among international operators.
The Atlantic seaboard nation’s strategic position between established oil-producing countries like Ivory Coast to the south and Senegal to the north has attracted attention from major players. Over the past 18 months, Shell, Petrobras, Hess, and Murphy Oil have purchased licensed data from Sierra Leone.
Government officials point to Namibia and Guyana as examples of how sustained exploration efforts can transform previously overlooked basins into major oil provinces, expressing confidence that Sierra Leone could follow a similar trajectory.
The timing appears favorable, with regional exploration success stories generating renewed interest in underexplored West African basins. Sierra Leone’s government has been working to create attractive fiscal terms while building technical capacity to support future development activities.
Results from the current seismic survey will be crucial in determining whether Sierra Leone can attract the major investment needed to unlock its offshore potential and join the ranks of West Africa’s oil-producing nations.
Source: msn.com
