Sierra Leone is waiting for the results of its latest offshore 3D seismic survey, its first in over 10 days, hoping to launch the next petroleum licensing round later this year.
A new government official says the results could shape the next licensing round, potentially opening Sierra Leone’s vast offshore basin to renewed global investment.
The six-week survey was conducted in partnership with energy consultancy GeoPartners, as the government intensifies efforts to de-risk its offshore acreage and attract credible investors to the country’s underexplored hydrocarbon sector.
“The reprocessing of that data is happening now with our multi-client partners, TGS, and we are hoping to get something to push to the market in October,” said Foday Mansaray, Director General of the Sierra Leone Petroleum Directorate.
Up to 60 offshore blocks on offer
According to Mansaray, Sierra Leone is preparing for its sixth oil and gas licensing round, following the conclusion of the fifth round in 2023.
Up to 60 offshore blocks may be made available, although the government does not plan to include ultra-deep areas, which are typically reserved for direct negotiations.
While earlier discoveries by Anadarko Petroleum and Russia’s Lukoil confirmed the presence of hydrocarbons, they were not commercially viable at the time.
Officials now believe new exploration technology and better market conditions could lead to successful developments.
Sierra Leone’s offshore reserves are estimated to hold up to 30 billion barrels of oil equivalent (boe), with the Vega prospect alone accounting for 3 billion barrels of recoverable oil, according to government data.
Positioned among energy heavyweights
Geographically, Sierra Leone lies between established oil-producing countries like Ivory Coast to the east** and Senegal to the north, giving it a strategic advantage along the Atlantic hydrocarbon belt.
“I firmly believe that Sierra Leone is on the cusp of something big and we are going to be one of the next big and successful stories,” Mansaray said, pointing to the recent rise of Namibia and Guyana as examples of how dormant frontiers can transform into global exploration hotspots.
Over the past 18 months, major oil firms—including Shell, Petrobras, Hess, and Murphy Oil—have reportedly purchased data from Sierra Leone’s licensed offshore areas, signaling growing interest in the basin.
Regional inspiration
Sierra Leone’s ambitions come as neighboring Senegal begins to reap the benefits of first oil from its Sangomar offshore field.
In addition, Senegal and Mauritania commenced LNG exports earlier this year through the Greater Tortue Ahmeyim project, marking a transformative moment for both economies.
Now, Sierra Leone is hoping to follow suit.
[…] blocks in Nigeria, Ghana, Egypt, Congo-Brazzaville and Cameroon. Lukoil also had done some exploration work in Sierra Leone but it was not […]