Billionaire businesswoman bags swathe of frontier oil and gas acreage in Africa



FA Oil, an upstream vehicle of billionaire businesswoman Folorunso Alakija, has been awarded a swathe of prospective exploration acreage offshore Sierra Leone.

The West African government has been drumming up interest in the nation’s offshore acreage since May last year as part of a fifth licensing round.

Supported by UK-based Africa Energy Partners, the round closed in late September and after a period of negotiations, the Petroleum Directorate of Sierra Leone (PDSL) has decided to award six blocks to FA Oil under a single petroleum licensing agreement.