Sierra Leone is aggressively reviving its offshore oil ambitions, signing a landmark $225 million licensing agreement with Nigeria-based Marginal Energy. Finalized at a high-profile energy forum in Paris, the deal grants the Nigerian independent exclusive exploration rights over five offshore blocks across 6,800 square kilometers of the frontier basin. Marginal Energy has committed to an extensive seismic and drilling program, signaling a significant vote of confidence in Sierra Leone’s underexplored waters. With the state retaining a 10% stake and options to increase its participation, the partnership aims to transform the nation’s hydrocarbon potential into tangible economic wealth. This move further cements the growing trend of indigenous African firms leading the continent’s upstream energy charge.
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