The goal of Sierra Leone’s first offshore 3D seismic survey in almost a decade is to explore the country’s offshore oil basin’s enormous potential.
The six-week survey is a crucial component of initiatives to lower the risks involved in oil exploration and to provide more thorough geological data.
It was conducted in collaboration with the energy consulting firm GeoPartners.
Later this year, the country will decide whether to move on with its next phase of oil and gas licensing based on the outcomes of this seismic study.
As reported by Reuters, up to 60 offshore blocks might be made available in the next phase, according to officials; however, direct discussions will still be required for the most ultra-deep-water areas.
Although there were oil discoveries from earlier exploration by big corporations like Anadarko Petroleum and Lukoil, they were not commercially viable.
Recent estimates, however, indicate that the offshore region of Sierra Leone may contain up to 30 billion barrels of recoverable oil equivalent, including the extremely prospective Vega possibility, which is thought to contain 3 billion barrels.
Nestled between oil-rich neighbors like Senegal and the Ivory Coast on the Atlantic coast, Sierra Leone hopes that better survey technology and increased interest from international investors would finally enable it to fulfill its petroleum goals.
Oil ambitions in Rwanda
The Rwandan government said earlier this year that it had discovered its first oil in Lake Kivu, which is located along the border with the Democratic Republic of the Congo.
The discovery, which comprises 13 distinct reservoirs, represents a significant advancement in Rwanda’s efforts to diversify its economy.
Rwanda, which has traditionally relied on agriculture, tourism, and mineral exports, sees this development as a chance to diversify its economy and increase its energy independence.
Although the country is still in the early phases of evaluation and development, the findings has piqued the attention and cautious optimism of investors and officials alike.
