Nigeria-based Marginal Energy Limited signed a $225 million offshore oil exploration and production agreement with Sierra Leone, granting the company rights to develop five offshore blocks (G-145, G-146, G-147, G-160, and G-161) covering approximately 6,800 square kilometers. The licence, signed through the Petroleum Directorate of Sierra Leone (PDSL), requires Marginal Energy to execute a seismic and drilling programme with exploration spending expected to exceed $225 million. Under the terms, Sierra Leone will retain a 10% carried interest in oil projects and a 5% interest in gas during exploration and development, with an option to acquire an additional 9% paid interest upon production commencement. The agreement was formalized at the Invest in African Energy conference in Paris, where Sierra Leone promoted offshore licensing opportunities to international investors. Sierra Leone President Julius Maada Bio stated the deal reflects the government's commitment to developing petroleum resources while ensuring national benefits. The transaction is part of Sierra Leone's broader strategy to revive interest in its under-explored upstream sector using fresh seismic data.