Talisman Returns to Sub-Sahara with Sierra Leone Deal

After an absence from the sub-Saharan oil industry after a shareholder and NGO push to have the company exit South Sudan, Talisman returns to the region after receiving ratification from Sierra Leonean authorities for a major stake in an offshore block.

Sierra Leone gave the nod for the Canadian company to take a majority stake in offshore block Block SL-4B-10, according to wire reports. The block was once held by Prontinal, but the government said the company failed to keep its minimum exploration program commitments on the block.

Talisman will take an 80% operated stake while Prontinal will retain 20%.

Drilling Sierra Leone has seen success over the past couple of years as well as the greater frontier regions of West Africa.