Sierra Leone has emerged from the exploration shadows cast by neighbouring Liberia and Ivory Coast after signing a major exploration deal with Eni that could see a wildcat drilled, possibly in 2026, on a huge deepwater structure that has been tantalising explorers for years.
Italian energy company Eni has signed a major exploration agreement for five offshore blocks in Sierra Leone, focusing on the large Vega prospect, a move signaling renewed interest in the country’s frontier exploration potential. This deal includes geological and geophysical studies across blocks G113, G129, G130, G131, and G132, covering approximately 6,790 km² of deepwater acreage. Eni’s entry, which is the first major deal in Sierra Leone after previous exploration efforts confirmed an active petroleum system but no commercial discovery, is seen as a confidence boost for the nation’s offshore potential and regulatory framework.
The agreement: Eni has secured the rights to conduct technical reconnaissance in five blocks, including extensive survey work such as 3D seismic data collection and reprocessing.
The Vega prospect: A key target is the large Vega prospect, a structure estimated to hold a significant amount of potential recoverable oil.
Significance for Sierra Leone: The deal is a major step for Sierra Leone’s petroleum sector, as it’s the first major exploration agreement after many years. The government views Eni’s involvement as a crucial signal to other potential investors.
Background: Past exploration in the area by companies like Anadarko and Tullow confirmed the existence of oil but did not result in commercial finds. This new agreement aims to re-evaluate the potential with updated technology.