Sierra Leone has officially signed an oil licensing agreement worth over $225 million with Nigeria, covering the exploration of five offshore blocks
According to local media, the operation has been entrusted to a specialized Nigerian company and is part of an ambitious national strategy aimed at revitalizing the hydrocarbons sector and attracting new foreign investment.
Through this agreement, authorities in Freetown seek to strengthen the attractiveness of Sierra Leone’s oil basin and reposition the country on the energy map of West Africa.
In the same momentum, the government plans to launch new exploration licenses soon, based on recently updated geological data, in order to further stimulate interest from international and regional operators.
