Sierra Leone hopes to kickstart upstream
One of West Africa’s last frontiers aims to join the ranks of regional hydrocarbons producers
Sierra Leone’s decision to push the deadline for bids under its fifth licensing round back to 27 January from the previous date of 30 September was motivated by “increased interest from international and national oil companies” as a result of high oil prices, according to regulator PDSL. An improved price environment has “created exploration funding for companies that were unable to raise the needed capital for frontier exploration”, the regulator says, adding the extra time will allow those firms to complete their geological and geophysical analysis and to review the existing seismic data, which includes 11,000km² of 3D assessments. The fifth round comprises 63,643km² of open acreage, split
Also in this section
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them
22 April 2024
Beijing’s renewed targeting of NOC management could threaten investment