Nigerian Billionaire, Folorunsho Alakija’s oil firm has secured six oil blocks from the Sierra Leonean authorities.
Discover of the signed settlement between Alakija’s oil firm and the federal government of Sierra Leone was made public in a public assertion signed by Dr Julius F Sandy, the Secretary to Sierra Leonan president.
In keeping with the general public assertion, Folorunsho Alajika’s oil firm signed the license settlement to 6 offshore blocks 53, 54, 55, 71, 72 and 73 on the 4th of December, 2023.
The Sierra Leonean authorities famous that the signed settlement between Alakija’s firm and Sierra Leone is proof of the robust relationship between Nigeria and Sierra Leone.
Alakija additionally has expressed appreciation and guaranteed that the settlement will likely be a mutual win for each events.
The assertion reads:
“The Common Public is hereby knowledgeable that following the closure of Sierra Leone’s Fifth Licensing Spherical and the profitable conclusion of the negotiation of phrases for a potential Petroleum License Settlement in respect of six offshore Graticular blocks, the Authorities of Sierra Leone has awarded the next offshore blocks to F. A. Oil Restricted Blocks 53, 54, 55, 71, 72 and 73
“F. A. Oil Restricted and its Associated Firm, which is a model identify within the Gulf of Guinea area with producing property within the deep waters off the coast of Nigeria on Monday, 4th December 2023, signed the associated Licence Settlement in Freetown throughout a quick ceremony.
“The expression of curiosity by F. A. Oil Restricted is a mirrored image of the continued confidence the funding group has within the Republic of Sierra Leone beneath the management of H.E. President Julius Maada Bio.
“The Licence Settlement represents one other stage of cooperation alternative between the Federal Republic of Nigeria and the Republic of Sierra Leone.
“In the course of the signing ceremony, the Chief Government Officer/Chairman of F.A.Oil Restricted, Apostle Folorunso Alakija expressed her appreciation of the chance for F. A. Oil Restricted to take part within the Oil and Gasoline panorama in Sierra Leone and guaranteed that the Licence Settlement will end in a win-win end result for each events.
“Execution of this specific Petroleum Licence Settlement is a defining second in petroleum useful resource growth in Sierra Leone, because it holds large promise in direction of the development of the Authorities’s nationwide transformation agenda.
“The Authorities needs to guarantee residents of its continued willpower in bringing on board the appropriate gamers on the proper time, the assertion reads.
F A. Oil Restricted is a subsidiary of F. A. Group, a conglomerate based in 1991 by Apostle Folorunso Alakija, one of many richest girls in Africa. Alakija, who’s the CEO and chairman of F. A. Oil Restricted.
Famfa Oil Ltd holds a 60% curiosity in Chevron-operated Oil Mining Lease (OOML) 127, which produces about 100,000 barrels of Oil Per Day, the second largest deepwater producing subject in Nigeria.
Sierra Leone has attracted the pursuits of a number of Nigerian gamers lately, together with Innoson Oil & Gasoline which has operatorship rights on the shallow water block 2020a.