By: Mohamed M. Sesay
The time is right to glorify and amplify the good news about the visible prosperity emerging under President Bio’s New Direction Government, as Innoson Oil and Gas Company discovered an astronomical 8.2 trillion Cubic Feet and 234 million barrels of gas and condensate compatibly.
Nonetheless that specific location (s) was/were not mentioned in the article Published by Innoson Oil and Gas Company regarding their economic boost discovery of Oil in Sierra Leone, three locations has been rumored to be the strategic hubs for the new gas discovery. Those whispered locations are Sorogbema Chiefdom in the Pujehun District, Bonthe District, and Mambo within the Western Area Rural.
This emerging virtuous news for Sierra Leone can never be disconnected to the inimitable New Direction Leadership led by President Julius Maada Bio. A visionary leader like President Bio looks beyond cosmetic development and push for development of prosperity for every Sierra Leonean with a compelling reason to have an unshakable trust in the New Direction Process.
Sometimes in 2019, the Bio led government through the Ministry of Mines and Mineral Resources, contracted a South African Company Xcalibur Airborne Geophysics, to undertake a countrywide airborne geophysical survey of Sierra Leone. That survey collected more than 547,000-line kilometers of magnetic and radiometric data over the entire country.
The fundamental objective of that timely countrywide geophysical survey was to obtain geophysical datasets, which will be integrated with geological and geochemical datasets, which will form the basis for a review of the country’s geological and mineral resource potential of the country.
Fascinatingly enough, citizens of Sierra Leone have started visualizing the significance attached to that Geophysical survey through the new discovery of Oil and Gas in the country by Innoson Oil and Gas Company. An Article published by the Street Journal, also reiterated that an independent third party evaluation has also been done by the Ryder Scott Company which happens to be another credible Oil and Gas Company. The Ryder Scott Company reaffirmed Innoson Oil and Gas findings of an SPE-PRMS P50 estimated un-risked gross prospective recoverable resources of 8.2 trillion cubic feet, TCF and 234 million barrels, MMBBL of gas and condensate respectively in the offshore of Sierra Leone.
The Innoson Oil and Gas Company also assured that development opportunity is currently being appraised, asset evaluation done, a field development plan is underway, and the setup of a data room are vigorously pursued with the immediate objective to engage a farm-in partner; ideally, with the financial strength, technological and management competencies to accomplish joint discovery, development, and production of the Oil in Sierra Leone.
That tuneful pronouncement by Innoson Oil and Gas Company also indicated that Innoson Oil and Gas has a 100% working interest on the prospect with a 10% carried, plus an optional 5% paid interest(s) for the state of Sierra Leone. After finalization and possible commencement of the oil extraction, Innoson Oil and Gas is also hopeful for an attractive fiscal and tax regimes by the state of Sierra Leone coupled with a flexible and robust environment for a big take for the country.
Sierra Leone is indeed gradually expressing farewell to the rippling and unfashionable global economic strangulation as the country prepares to mine its own Oil and Gas. A country that is/was once known for its bountiful Gold and Diamond is now metamorphosing into an oil-rich country. This calls for a boisterous celebration indeed, as it injects a new hope of undying trust in the New Direction Government.
