Government Awards License to F.A. Oil Limited
The Government has informed the general public 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, it has awarded the following offshore blocks to F. A. Oil Limited: Blocks 53, 54, 55, 71, 72 and 73.
According to the release, F. A. Oil Limited and its Related Company, which is a brand name in the Gulf of Guinea region with producing assets in the deep waters off the coast of Nigeria on Monday, 4th December 2023, signed the related Licence Agreement in Freetown during a brief ceremony.
The expression of interest by F. A. Oil Limited is a 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.
During the signing ceremony, the Chief Executive Officer/Chairman of F.A. Oil Limited, Apostle Folorunso Alakija 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 this 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 bringing on board the right players at the right time.
Where is APP, may God blessings. And help this company to stay
My advice to our entire country and it people incoulding the government that all of us should try to work in the interest of our country. Let’s this gifts of natural resources be a blessing but not a cause . So let all of us pray for the speedy recovery of our entire Lost of groceries to be replaced by this so called natural resources.
I thank our country elected president and to please make sure that there are structure in place during these expiration that will benefit all sierra Lonear.I thank my God almighty to counting putting blessings in our country and bring us together as one country one people.