Politics

West Africa: Innoson Says Close to Huge Gas Find in Sierra Leone


The company’s findings were confirmed from a rigorous hydrocarbon exploration campaign it conducted in the Sierra Leonean basin

The Innoson Oil & Gas limited announced Saturday it is on the verge of discovering a huge deposit of 8.2 trillion cubic feet (TCF) and 234 MMbbl of gas and condensate in its Sierra Leonean basin.

A statement by Cornel Osigwe, head of Corporate Communications of the company, said that an independent energy consulting firm, Ryder Scott Company, confirmed Innoson Oil & Gas Ltd’s findings from a rigorous hydrocarbon exploration campaign it had been conducting in the Sierra Leonean basin since 2020.

“IOG was awarded nine graticular provisional blocks in May 2020,” the statement said, adding that the following year, the parliament of Sierra Leone ratified a petroleum exploration and production license in favour of IOG as confirmed in a letter of conveyance to IOG in April 2021.

The company disclosed that the said the Sierra Leonean basin has a working petroleum system, corroborated by oil deposits encountered during previous exploration activities amongst others by Anadarko, Repsol, and Tullow Oil that achieved the Venus B1 discovery and Mercury wells.

Martin Nweke, IOG’s administrative director noted that boldness, and the willingness to deploy unconventional technology, constitute foundational propositions that drove the campaign of the industry novice.

The statement noted that with cost, time, and precision quintessential, the IOG exploration team led by Andrey Sergeev, Project Director and Chief Geologist, deployed a robust earth remote sensing (ERS) method for basin reconnaissance.