Sierra Leone is preparing to relaunch its oil and gas sector with renewed optimism as it awaits results from a new offshore 3D seismic survey—its first in more than a decade. The country is targeting an October 2025 window to open its sixth licensing round, pending positive results.
The six-week seismic campaign, led by GeoPartners in partnership with the Petroleum Directorate and multi-client data firm TGS, aims to de-risk exploration across Sierra Leone’s offshore basin.
‘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,’ Foday Mansaray, Director General of the Petroleum Directorate, told Reuters.
Up to 60 new offshore blocks in play
According to Mansaray, the next licensing round could include up to 60 offshore blocks, excluding ultra-deepwater areas which are typically negotiated directly. The last round concluded in 2023 and drew attention but limited drilling momentum.
Sierra Leone’s offshore basin lies along the Atlantic margin between regional oil-producing nations Cote d’Ivoire and Senegal, placing it strategically within a growing West African exploration corridor.
While previous discoveries by Anadarko Petroleum and Russia’s Lukoil proved non-commercial, Mansaray believes advances in seismic technology and investor appetite could shift the outlook dramatically.
Huge reserves and global interest
Sierra Leone has an estimated 30 billion barrels of oil equivalent in recoverable offshore reserves, according to government estimates. That includes the Vega prospect—first identified by Anadarko—which alone may hold as much as 3 billion barrels.
‘We are on the cusp of something big,’ Mansaray said. ‘Sierra Leone is going to be one of the next big and successful exploration stories.’
Interest is growing. Over the past 18 months, energy majors including Shell, Petrobras, Hess, and Murphy Oil have acquired licensed data from the Petroleum Directorate, reflecting cautious optimism in the basin’s long-term potential.
Lessons from Guyana and Namibia
Mansaray pointed to Guyana and Namibia—once overlooked, now booming—as examples of what can happen when persistent investment and high-quality data converge.
‘Namibia and Guyana show that success can come after years of limited activity,’ he said. ‘Sierra Leone is in that position now—we have the geology, we have the data, and we are ready to attract serious investment.’
Officials plan to sweeten the next round with competitive terms, improved data access, and investor support services, while ensuring transparency and regulatory clarity.
Focused on responsible, data-driven growth
The current seismic acquisition campaign, which is due to conclude in July 2025, is seen as a critical step in attracting serious bids. Mansaray said that offering de-risked blocks based on robust data will help build investor confidence and avoid past setbacks.
‘We want to give investors the confidence that Sierra Leone is serious, data-driven, and ready for exploration at scale,’ he noted.
While the country is optimistic, officials remain cautious amid volatile oil prices and a global energy transition that is shifting investor preferences toward cleaner sources.
A frontier with new momentum
Despite the uncertainties, Sierra Leone is positioning itself as West Africa’s next frontier play. The government is betting that improved data, favourable geography, and investor re-engagement could set the stage for a long-awaited breakthrough.
A formal announcement on the sixth licensing round is expected in Q4 2025, following final interpretation of the seismic results. If launched, it could open a new chapter in Sierra Leone’s energy journey—one defined not by missed potential, but by strategic growth.
Credit: Africabriefing
