Director General of the Petroleum Directorate of Sierra Leone, Foday Mansaray, is expected at the upcoming Invest in African Energy (IAE) forum in Paris, France, on May 14-15 to promote the country’s upstream opportunities and available blocks.
Though considered a frontier exploration market, Sierra Leone features a working petroleum system with four significant discoveries made by Anadarko (Venus-B1, Mercury-1 and Jupiter-1) and Lukoil (Savannah-1X).
Given that only eight wells have been drilled in-country, these discoveries highlight the prospects of Sierra Leone’s offshore acreage, supported by extensive 2D and 3D multi-client data, competitive and transparent fiscal terms, and cooperation agreements in place with other African markets.
Invest in African Energy (IAE) 2024 is an exclusive forum to facilitate investment between African energy markets and global investors. The event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers.
The country’s latest and fifth licensing round featured 56 offshore blocks and concluded last September, after being extended due to a high level of interest. Indigenous energy company F.A. Oil Limited was among the winners, securing licenses for six offshore oil blocks. Another licensing round is on the horizon for 2024 with additional acreage available, which will be showcased at the upcoming forum.
Furthermore, Sierra Leone has signed regional cooperation agreements with Equatorial Guinea, Angola, Ghana and The Gambia, facilitating knowledge and technology transfer and fast-tracking production when new discoveries are made.
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