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Sierra Leone is poised to become a key player in the global oil and gas market, with an estimated 30 billion barrels of recoverable oil equivalent offshore, valued at approximately $2.31 trillion.
As reported by Oilprice.com, a renowned global energy news site, the revelation came from Foday Mansaray, the Director General of the Sierra Leone Petroleum Directorate, who emphasized the country’s potential as a new frontier for exploration.
The government has announced that it will not open its next round of oil and gas licensing until after the results of a recently initiated offshore 3D seismic survey. The survey, as the first in over a decade, began in May and is being conducted by consulting firm GeoPartners in collaboration with the petroleum directorate.
Mansaray noted that the data from the six-week survey is currently being processed with multi-client partners, TGS, and the government aims to market the findings by October.
In the upcoming sixth round of oil and gas auctions, Sierra Leone may offer up to 60 offshore blocks. This is a significant increase from the 23 blocks available in the last round. Mansaray indicated that ultra-deep regions typically available for direct negotiations are unlikely to be included in this new offering.
Historically, while oil had been discovered in Sierra Leone by companies such as Russia’s Lukoil and Anadarko Petroleum, it was not found in commercially viable quantities. The Vega prospect, previously discovered by Anadarko, holds about 3 billion barrels of recoverable oil and is among the significant finds in the region.
Strategically located between oil-producing nations like Senegal to the north and Ivory Coast to the south, Sierra Leone is eager to attract investment and exploration.
Over the past 18 months, major companies, including Shell, Petrobras, Hess, and Murphy Oil, have acquired licensed data in the region. Mansaray pointed to successful oil discoveries in countries like Guyana and Namibia as models for Sierra Leone’s potential growth.
“I firmly believe that Sierra Leone is on the cusp of something big, and we are going to be one of the next big and successful stories,” Mansaray stated, expressing optimism about the future of the nation’s oil and gas sector.
We are still going to be the poorest country in the world again
Ah salone please this oil help us have 24 hours electricity, good roads, and employment all over…
We need this oil 🛢 cause every governance whether present or past they owe us so they have to repay
Wow this is massive
Wow good news
Wow, billions barrels of oil in the land that we love, Sierra Leone. Another chance for our country’s economic recovery.
What did we achieve with the diamond, gold, iron ore, boxite, and other plenty minerals in Sierra Leone. Nothing. This is just another cake for the corrupt government
Ya Allah bless our country with good leaders, that must help us achieve the benefits of this particular oil.Inshallahu.
Based on the available information, there have been no confirmed discoveries of new oil fields or significant oil reserves in Sierra Leone from recent exploration activities as of July 6, 2025. However, there is significant ongoing exploration activity and optimism about the country’s potential to become a major oil and gas producer, driven by recent seismic surveys and government initiatives. Below is a well-balanced and cross-checked analysis of the situation:
Recent Exploration Activities in Sierra Leone
Sierra Leone has been actively pursuing oil and gas exploration, particularly in its offshore basins, which are estimated to hold up to 30 billion barrels of oil equivalent (BOE) recoverable reserves, including the Vega prospect identified by Anadarko Petroleum over a decade ago, which is estimated to contain 3 billion barrels of recoverable oil.
In May 2025, Sierra Leone launched a six-week 3D seismic survey, the first in over a decade, in collaboration with GeoPartners and TGS, aimed at de-risking exploration in its offshore basin. The results of this survey are being reprocessed, with expectations to inform a potential sixth oil and gas licensing round in October 2025, which could offer up to 60 offshore blocks. This survey has generated interest from major international oil companies like Shell, Petrobras, Hess, and Murphy Oil, which have purchased licensed data over the past 18 months.
Historical Context and Past Discoveries
Sierra Leone has a history of exploration with mixed results. Between 2009 and 2013, companies like Anadarko Petroleum and Lukoil made discoveries, including the Venus-B1, Mercury-1, Jupiter-1, and Savannah-1X fields, but these were deemed non-commercial at the time due to factors like insufficient volumes, high exploration costs, or external challenges such as the 2014-2016 Ebola outbreak and low global oil prices. The Vega prospect, in particular, was noted as potentially significant but was not developed due to commercial viability concerns.
Current Status of New Oil Finds
There is no definitive evidence in the provided sources or recent reports of new oil discoveries resulting from the 2025 seismic survey or other recent exploration efforts. Instead, the focus is on the potential for future discoveries based on improved seismic data and advances in exploration technology. The Petroleum Directorate, led by Director General Foday Mansaray, has expressed optimism, stating that Sierra Leone is “on the cusp of something big” and could follow the success of countries like Namibia and Guyana, where exploration eventually led to commercial discoveries after years of effort.
A third-party evaluation by Ryder Scott Co. for Innoson Oil & Gas (part of Nigeria’s IVM Innoson Group) was mentioned in one source, but no specific details confirm a new discovery. Claims on X about Sierra Leone sitting on 30 billion barrels of oil and gas worth $2.1 trillion appear to reference the estimated recoverable reserves rather than a newly verified find. These estimates are based on prior data and the Vega prospect, not new discoveries.
Verification and Challenges
Sentiment and Future Outlook
The sentiment, as reflected in X posts and official statements, is highly optimistic, with comparisons to successful frontier markets like Guyana and Namibia. The government is actively promoting its oil and gas sector through investor-friendly policies, streamlined licensing processes (e.g., 85-day license approval), and cooperation agreements with countries like Angola, Ghana, and Equatorial Guinea. However, these are aspirations rather than evidence of new finds.
Conclusion
There are no verified reports of new oil discoveries in Sierra Leone from recent exploration as of July 6, 2025. The country is actively exploring its offshore basins, with an estimated 30 billion barrels of recoverable oil equivalent, but these figures are based on prior estimates, including the Vega prospect, and not new finds. The ongoing 3D seismic survey and planned licensing round in October 2025 signal strong potential, but claims of significant new reserves remain unconfirmed. For the latest updates, checking announcements from the Petroleum Directorate of Sierra Leone (pd.gov.sl) or reputable sources like Reuters or OilPrice.com is recommended.