Sierra Leone government awards six oil blocks to Alakija’s firm
The government of Sierra Leone has awarded six oil blocks to a Nigerian firm, F.A. Oil Limited, belonging to Apostle Folorunso Alakija.
A notice signed by Secretary to the President of Sierra Leone, Julius Sandy obtained by Westernpost stated that following the closure of Sierra Leone’s Fifth Licensing Round and the successful conclusion of the negotiation of terms for a prospective Petroleum License Agreement in respect of six offshore Graticular blocks, the Government of Sierra Leone has awarded the following offshore blocks to F.A. Oil Limited Blocks 53, 54,55,71, 72 and 73.
According to him, the F. A. Oil Limited and its Related Company, which is brand name in the Gulf of Guinea region with producing assets in the deep waters off the coast of Nigeria on Monday, 4 December 2023 signed the related Licence Agreement in Freetown during a brief ceremony.
“The expression of interest by F. A. Oil Limited is reflection of the continued confidence the investment community has in the Republic of Sierra Leone under the leadership of H. E. President Julius Maada Bio. The Licence Agreement represents another level of cooperation opportunity between the Federal Republic of Nigeria and the Republic of Sierra Leone.”
He explained that during the signing ceremony, the chief Executive Officer/Chairman of F. A. Oil Limited, expressed her appreciation of the opportunity for F. A. Oil Limited to participate in the Oil and Gas landscape in Sierra Leone and assured that the Licence Agreement will result in a win-win outcome for both parties.
“Execution of the particular Petroleum Licence Agreement is a defining moment in petroleum resource development in Sierra Leone, as it holds tremendous promise towards the advancement of the government’s national transformation agenda.
“The Government wishes to assure citizens of its continued determination in brining on board the right players at the right time,” the statement added.
