Sierra Leone launches extensive offshore oil exploration with 60 potential blocks

Sierra Leone relaunches an ambitious offshore exploration campaign, using a 3D seismic survey to evaluate up to 60 potential oil blocks before opening a new licensing round as early as next October.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Sierra Leone has started its first offshore three-dimensional seismic survey in more than ten years to precisely evaluate the hydrocarbon potential of its maritime basin. Conducted in partnership with consulting firm GeoPartners, this seismic campaign aims to enable the West African country to delineate exploitable areas for future oil and gas licences. The country hopes to launch its next oil licensing round in October, subject to the results of this new survey. This initiative follows a previous licensing round completed in 2023.

Re-evaluation of potential offshore blocks

According to Foday Mansaray, Director General of the Sierra Leone Petroleum Directorate, up to 60 offshore blocks could be made available for auction. The main objective of this seismic campaign is to reduce investment risk by providing potential investors with precise geological data. The processing of data collected from this study is currently underway with the assistance of multi-client company TGS, which specialises in geological data for the petroleum industry. Finalisation of this preliminary seismic data analysis phase is expected within the coming months, thus paving the way for future negotiations with international oil companies.

Estimated resources and regional context

The offshore potential of Sierra Leone is estimated at approximately 30 billion barrels of oil equivalent recoverable, according to local authorities. Among these reserves notably figures the Vega prospect, previously identified by Anadarko Petroleum, with estimated resources of around three billion recoverable barrels. Although earlier discoveries occurred with actors such as Anadarko Petroleum and the Russian company Lukoil, these never reached a threshold enabling commercial exploitation. However, future auctions should exclude ultra-deepwater areas, usually reserved for direct negotiations between the state and operators.

Increasing interest from multinational oil firms

Over the past 18 months, several major companies, including Shell, Petrobras, Hess and Murphy Oil, have acquired geological data available for sale on the region. Sierra Leone, located between two oil-producing countries—Ivory Coast to the south and Senegal to the north—seeks to capitalise on this regional dynamic favourable to oil and gas exploration. Foday Mansaray thus compares the current opportunities to those recently observed in Namibia and Guyana, countries where exploration activity has greatly expanded after years of stagnation.

According to Mansaray, Sierra Leone is now positioning itself as a key player on the West African energy map, anticipating major development of its petroleum sector.

The Russian government has extended the ban on gasoline and diesel exports, including fuels traded on the exchange, to preserve domestic market stability through the end of next year.
OPEC has formally rejected media reports suggesting that eight OPEC+ countries plan a coordinated oil production increase ahead of their scheduled meeting on October 5.
International Petroleum Corporation has completed its annual common share repurchase programme, reducing its share capital by 6.2% and is planning a renewal in December, pending regulatory approval.
Kansai Electric Power plans to shut down two heavy fuel oil units at Gobo Thermal Power Station, totalling 1.2GW of capacity, as part of a production portfolio reorganisation.
Canada’s Questerre partners with Nimofast to develop PX Energy in Brazil, with an initial commitment of up to $50mn and equal, shared governance.
BP commits $5 billion to Tiber-Guadalupe, with a floating platform targeting 80,000 barrels per day and first production in 2030, to increase its offshore volumes in the Gulf of Mexico.
Russia projects a 12.5% contraction in oil and gas revenues in 2025, before a gradual recovery through 2028, according to official economic projections.
Baker Hughes will supply up to 50 subsea trees and associated equipment to Petrobras to support offshore production in Brazil, strengthening its role in the development of pre-salt fields.
Driven by rising global energy consumption and exploration investments, the oilfield service equipment market is expected to grow at a 5.39% CAGR to reach $36.87bn by 2031.
US sanctions against Serbian oil company NIS, owned by Gazprom, were delayed by eight days after talks between Belgrade and Washington, President Aleksandar Vucic said.
Nigeria’s oil union ordered the suspension of gas and crude deliveries to Dangote refinery following the dismissal of hundreds of local workers, escalating an industrial dispute with potential supply impacts.
Vitol strengthens its presence in West Africa by acquiring a 30% stake in the Baleine oil field from Eni, while maintaining an active role in the country’s offshore development.
The number of active drilling rigs in the United States rose for the fourth consecutive week, supported by higher crude prices and OPEC+’s difficulties in meeting production targets.
Baghdad has restarted crude shipments from Kurdistan via the pipeline to Turkey, following a two-year halt linked to legal and contractual disputes involving international firms operating in the region.
Washington offers New Delhi an alternative to its Russian imports while maintaining tariff pressure, exposing a double standard in US energy policy.
Canadian group North Atlantic will acquire ExxonMobil’s stake in Esso France, including the country’s second-largest refinery, with the ownership change expected by the end of 2025.
Ghana’s only refinery is preparing to resume operations after a prolonged shutdown caused by technical and financial issues, with a restart scheduled for October according to its management.
BP revises its annual forecast and now expects global oil demand to grow until 2030, due to slower worldwide energy efficiency gains.
The Liberian government awarded four offshore oil blocks to Nigerian company Atlas-Oranto for $12 million, strengthening the regional presence of African junior players in offshore exploration.
Oil companies are preparing for a tough 2026 with lower investments, focusing on financial discipline and cash flow redistribution at the expense of low-return projects.

Log in to read this article

You'll also have access to a selection of our best content.

[wc_register_modal]