Sierra Leone ratifies Talisman oil deal

Offshore_rigOil and gas company, Talisman, have acquired an 80 per cent stake in Block SL-4B-10. Canadian-based oil and gas company Talisman has been given the go ahead to begin exploration of Block SL-4B-10, offshore Sierra Leone, after replacing Prontinal as majority owner of the block

Talisman spokesperson Phoebe Buckland announced that the company had taken an 80 per cent stake in the block, along with the role as its operator, while Prontinal will retain a 20 per cent claim.

West African Petroleum Directorate acting director general, Raymond Kargbo, explained, "[Protinal] did not meet all of their minimum work programme obligations."

In 2007, one of Africa’s largest oil fields was found offshore Ghana by Tullow Oil. Since then, West Africa has experienced a rush in oil exploration, such as the African Petroleum Liberian discovery of more than 30 metres of net oil pay in February 2012.

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