Sierra Leone Holds 30 Billion Barrels Of Oil & Gas
In his recent State Opening of Parliament, President Bio discloses that Sierra Leone is boldly positioning itself as West Africa’s next frontier for oil and gas exploration.
He states that even though Sierra Leone’s offshore basin is largely underexplored, it holds immense geological promise and that with the right investment, the upstream petroleum sector could be transformative for the economy and the people.
“A landmark offshore study identified over 80 deepwater exploration leads, with early estimates of 30 billion barrels of recoverable oil and gas,” he reveals.
He confirms that a completed $30 million 3D seismic survey which is the first for over a decade, adhering to global safety and environmental standards, adding that the data will guide in drilling decisions planned for 2026. He adds that it will attract investment, and develop local expertise by offering training and capacity building for Sierra Leoneans in various fields.
That Sierra Leone is one of 13 signatories to the $25 billion Africa Atlantic Gas Pipeline Project which is a transformative initiative to connect West African gas to European markets.
That the project will spur regional industrial growth, create jobs, increase transit revenues, and develop a domestic gas market for power and exports, delivering energy for households and industries.
“With responsible management, our upstream petroleum sector can usher in a new era of national prosperity. My government is committed to leading this effort with clear vision and accountability for the benefit of all Sierra Leoneans,” he assures.
