Sierra Leone is set to decide on launching its next oil and gas licensing round based on the outcome of an ongoing offshore 3D seismic survey—its first in more than ten years—a senior official confirmed on Thursday.
The survey, which began last month, is being conducted by GeoPartners in collaboration with the Sierra Leone Petroleum Directorate. The six-week study aims to reduce exploration risks in the country’s offshore region.
Foday Mansaray, Director General of the Petroleum Directorate, stated that the collected data is currently being reprocessed in partnership with multi-client firm TGS. “We hope to present something to the market by October,” Mansaray said, referencing the potential timeline for the next licensing round.
The upcoming sixth oil and gas auction could include as many as 60 offshore blocks, although Mansaray noted that ultra-deepwater zones—typically available for direct negotiations—are not expected to be part of the offering. The previous licensing round concluded in 2023.
Mansaray highlighted that Sierra Leone’s offshore resources are estimated at approximately 30 billion barrels of oil equivalent. Among these is the Vega prospect, previously identified by Anadarko, which holds an estimated 3 billion recoverable barrels.
Located between regional oil producers Côte d’Ivoire and Senegal, Sierra Leone is positioning itself as a promising site for exploration. Over the last 18 months, major companies including Shell, Petrobras, Hess, and Murphy Oil have acquired data from the country’s licensed areas.
Drawing parallels to exploration booms in Namibia and Guyana, Mansaray expressed optimism about Sierra Leone’s potential. “I strongly believe Sierra Leone is on the brink of a major discovery. We’re poised to become one of the next big success stories,” he said.