Sierra Leone Signs $225M Offshore Oil Deal with Nigeria's Marginal Energy After Shell Permit

Sierra Leone has signed a $225 million petroleum licence agreement with Nigeria’s Marginal Energy, granting exploration rights over five offshore blocks (G-145, G-146, G-147, G-160, G-161) spanning 6,800 sq km, following a reconnaissance permit issued to Shell the day prior. Marginal committed to seismic and drilling programs, with Sierra Leone holding a 10% carried oil interest and 5% gas interest, plus an option for 9% more at production. Signed at the Invest in African Energy conference in Paris, this builds on Shell's 20,600 sq km survey to de-risk the basin, spurring West African exploration investment and oil service demand.