Sierra Leone awards offshore licence to Nigeria’s Marginal Energy

Sierra Leone

PARIS, April 24, 2026 – Sierra Leone has signed an offshore petroleum licence agreement with Nigeria-based Marginal Energy, Reuters reported on Thursday.

The licence grants exploration and production rights over offshore blocks G-145, G-146, G-147, G-160 and G-161, which together cover approximately 6,800 square kilometres. Under the terms of the agreement, Marginal Energy has committed to conducting a seismic acquisition and exploratory drilling programme at an aggregate spend expected to exceed USD 225 million.

Sierra Leone will hold a 10% carried interest in oil projects and a 5% carried interest in gas projects during the exploration and development phases, and retains the option to increase its stake by up to 9% on a paid basis once production begins.

The deal was signed on the sidelines of an African energy conference in Paris, where Sierra Leone President Julius Maada said the agreement with Marginal Energy reflects the government’s commitment to developing petroleum resources while delivering national benefits.

On Wednesday, Sierra Leone signed a reconnaissance permit agreement with Shell to undertake geological and geophysical studies across 19 offshore blocks. The country is also planning to launch an offshore licensing round with new seismic data.

Marginal Energy is a Nigerian independent oil and gas company that engages in upstream exploration and production, with operations centred on developing marginal fields.

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