Famfa Oil Restricted, an indigenous vitality firm, has been granted rights to 6 offshore oil blocks by the Sierra Leonean authorities following the profitable conclusion of the nation’s fifth licensing spherical.
The announcement got here by a press release launched by Julius Sandy, the secretary to the president of Sierra Leone, on Sunday.
The awarded offshore blocks are numbered 53, 54, 55, 71, 72, and 73, marking a major growth in Sierra Leone’s petroleum trade.
In response to the assertion, the signing ceremony, solidifying the partnership between Sierra Leone and Famfa Oil Restricted, happened in Freetown on December 4.
Famfa Oil, based in September 1991 and owned by Nigerian businesswoman Folorunso Alakija, boasts a confirmed monitor document within the Gulf of Guinea area.
Alakija expressed her gratitude in the course of the signing ceremony, emphasizing the constructive impression the license settlement could have on each Sierra Leone and Famfa Oil.
Sandy highlighted the worldwide funding group’s rising confidence in Sierra Leone below President Julius Maada Bio, stating that the license settlement signifies a brand new degree of cooperation between the Republic of Sierra Leone and the Federal Republic of Nigeria.
“The execution of this Petroleum Licence Settlement is a defining second in petroleum useful resource growth in Sierra Leone, holding large promise in the direction of the development of the federal government’s nationwide transformation agenda,” the assertion reads.
The Sierra Leonean authorities, whereas assuring its residents of continued diligence in choosing applicable companions, sees this settlement as a major step in the direction of attracting accountable gamers within the oil and gasoline trade.
