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In 2025 alone, two African nations, Sierra Leone and Rwanda, seemed to have positioned themselves as potential entrants into the continent’s oil-producing club, signaling a shift in their long-term economic strategies. The former recently found viabilty in this objective, following a 3D seismic survey.

Africa’s oil-producing club could soon welcome a new member- here's who might be next

• Sierra Leone and Rwanda are positioning themselves as new entrants into Africa's oil-producing nations.
• Sierra Leone completed a major offshore 3D seismic survey to explore its oil potential and assess feasibility for licensing blocks.
• Estimates suggest Sierra Leone's offshore region could contain up to 30 billion barrels of recoverable oil equivalent.

The goal of Sierra Leone's first offshore 3D seismic survey in almost a decade is to explore the country's offshore oil basin's enormous potential.

The six-week survey is a crucial component of initiatives to lower the risks involved in oil exploration and to provide more thorough data.

It was conducted in collaboration with the energy consulting firm GeoPartners.

Later this year, the country will decide whether to move on with its next phase of oil and gas licensing based on the outcomes of this seismic study.

"The reprocessing of that data is happening now with our multi-client partners, TGS, and we are hoping to get something to push to the market in October," Foday Mansaray, director general at the Sierra Leone Petroleum Directorate said of a potential licensing launch date.

Innoson Oil & Gas, part of Nigeria’s IVM Innoson Group, revealed last week the findings of a third-party evaluation conducted by Ryder Scott Co. on its concession offshore Sierra Leone. [Source: Hawilti]

As reported by Reuters, the director noted that up to 60 offshore blocks might be made available in the next phase, however, direct discussions will still be required for the most ultra-deep-water areas.

Although there were oil discoveries from earlier exploration by big corporations like Anadarko Petroleum and Lukoil, they were not commercially viable.

Recent estimates, however, indicate that the offshore region of Sierra Leone may contain up to 30 billion barrels of recoverable oil equivalent, including the extremely prospective Vega possibility, which is thought to contain 3 billion barrels.

Nestled between oil-rich neighbors like Senegal and the Ivory Coast on the Atlantic coast, Sierra Leone hopes that better survey technology and increased interest from international investors would finally enable it to fulfill its petroleum goals.

Some of its licensed data has been bought by oil majors such as Shell, Petrobras, Hess, and Murphy Oil in the last 18 months, according to Mansaray.

"I firmly believe that Sierra Leone is on the cusp of something big and we are going to be one of the next big and successful stories," he stated.

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Oil ambitions in Rwanda

Rwanda, meanwhile, has made notable progress in East Africa, concerning its objective of becoming an oil-producing African country.

Lake Kivu

The Rwandan government said earlier this year that it had discovered its first oil in Lake Kivu, which is located along the border with the Democratic Republic of the Congo.

The discovery, which comprises 13 distinct reservoirs, represents a significant advancement in Rwanda's efforts to diversify its economy.

Rwanda, which has traditionally relied on agriculture, tourism, and mineral exports, sees this development as a chance to diversify its economy and increase its energy independence.

Although the country is still in the early phases of evaluation and development, the findings has piqued the attention and cautious optimism of investors and officials alike.