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Wednesday, February 21, 2024

SIERRA LEONE REPORTEDLY AWARDS OIL BLOCKS TO ALAKIJA’S FIRM

Date:

The Government of Sierra Leone has reportedly awarded six offshore oil blocks to F. A. Oil Ltd, belonging to Nigeria’s richest woman, Folorunso Alakija.

An unconfirmed public notice from the Government of Sierra Leone, that was posted by Tolu Ogunlesi, an aide to former President Muhammadu Buhari, stated that the awards were for “offshore Graticular blocks.”

The notice which was titled, ‘Award of Petroleum Licence to F.A. Oil Limited,’ further stated that Alakija’s had signed the licence agreement that was required for the blocks.

“The general public is hereby informed 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, the Government of Sierra Leone has awarded the following offshore blocks to F. A. Oil Limited, Blocks 53, 54, 55, 71, 72 and 73:

“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, December 4, 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.”

The notice pointed out that during the signing ceremony, the Chief Executive Officer/Chairman of F.A. Oil Limited, Folorunso Alakija, expressed appreciation for the opportunity of F. A. Oil Limited to participate in the oil and gas landscape in Sierra Leone and assured that the Licence Agreement would 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,” the notice stated.

The notice was signed by Secretary to the President of Sierra Leone, Julius Sandy, as some oil industry sources in Nigeria said they were aware of the deal, and commended Alakija for investing in the West African nation. Source: punchng.com

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