Petroleum Africa
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Thursday, April 30, 2020
The Government of Sierra Leone announced that following the conclusion of its 4th Offshore Petroleum Licensing Round on, six applications for offshore petroleum concessions were received and evaluated. The government, in a press release, said that a rigorous and thorough evaluation processes was employed to assess the capability and credibility of the six oil and gas corporations to undertake offshore exploration activities.
A detailed assessment focused on:
(1) technical and financial capability to implement deep water exploration projects,
(11) favorable commercial terms,
(iii) capacity of Health, Safety and Environmental programs,
(IV) commitment to Local Content requirements
(V) attractiveness of proposed social responsibility initiatives.
Following these assessments, the Government announced that as an initial option, Sierra Leone’s open offshore petroleum acreage has been provisionally awarded to:
Cluff Energy Africa, covering graticular blocks 23, 24, 25, 36, 37,38, 39, 54, 55, 56, 57, 74, 75, 94 & 95, and Innoson Oil and Gas, covering graticular blocks 96, 97, 114, 115, 116, 117, 133,134, & 135.
The 4th Licensing Round initially launched in January 2018 but was extended more than once following extensions and corresponding industry consultations that resulted in the revision of the Licensing Strategy. The revised strategy included the adoption of a graticular block framework model that was designed to allow applicants the freedom to delineate their areas of interest by assembling multiple contiguous blocks of 1,360 km each.
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