Foday Mansaray, Director General of the Petroleum Directorate of Sierra Leone (PDSL) – the government agency tasked with managing the country’s petroleum resources – will share insight into emerging investment opportunities in oil exploration and production at the African Energy Week (AEW): Invest in African Energies 2025 conference. Sierra Leone has emerged as an exciting frontier market in recent months and the participation of Mansaray reflects a drive by the PDSL to engage with global upstream operators seeking new opportunities offshore West Africa.
Taking place September 29 to October 3 in Cape Town, AEW: Invest in African Energies is the premier platform for the African energy industry. Through Mansaray’s participation, this year’s edition will share key insight into the country’s investment prospects, including seismic datasets, new exploration frontiers and strategic farm-ins. PDSL is a Strategic Partner of the event.
AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
With proven offshore oil resources and four existing major oil discovery, Sierra Leone is making strides toward incentivizing investment across its shallow and deepwater assets. The PDSL announced during the Invest in African Energy (IAE) Forum in Paris – which serves as a precursor to AEW: Invest in African Energies 2025 in Cape Town – the acquisition of new 3D data across the country’s offshore basin, starting in June 2025. The data acquisition program will target the northwestern offshore area, with operations lasting 60 days. The program is expected to be completed within six to eight months and will generate greater understanding of the country’s offshore plays.
The PDSL also announced that a separate reprocessing effort is underway across the southern part of the basin, conducted in collaboration with global energy data and intelligence company TGS. The companies will leverage TGS’ advanced seismic imaging workflows to enhance depth data, offering clearer subsurface insights for oil and gas companies. Focusing on the Vega prospect, the campaign will help map the prospect, supporting future drilling activities across the basin. The data will comprise 7,500 km² of 3D seismic, complemented by 16,000-line km of 2D pre-stack depth migrated data. The campaign is expected to be finalized before AEW: Invest in African Energies 2025.
These initiatives align with efforts by the PDSL to de-risk and reprocess data offshore Sierra Leone. Mansaray noted at the IAE Forum that once de-risking happens, the country would be in a position to launch its next licensing round. Sierra Leone concluded its fifth licensing round in September 2023, featuring over 63,000 km² of highly-prospective acreage across 53 blocks. Nigerian exploration firm F.A. Oil won six offshore oil blocks and is currently seeking financial and technical partners to support exploration and development. The company has also kick-started a prospectivity study, revealing indications of up to two billion barrels of hydrocarbons in place.
Meanwhile, Sierra Leone is working towards drilling its first well in nearly a decade in 2026. The country is also in the final stages of establishing a new National Oil Company (NOC). The NOC will hold a 10% stake in all exploration licenses, working towards a shared goal of unlocking the potential of the country’s hydrocarbon resources. The government seeks to gain a 25-30% interest in projects – subject to negotiation – and the NOC is expected to play an instrumental part in advancing oil and gas developments in the country.
“Sierra Leone has the potential to become a major offshore producer in West Africa. By de-risking and reprocessing data, engaging with operators and investors and pursuing new licensing rounds, the PDSL is providing the requisite support that companies need to invest and make discoveries in Sierra Leone,” Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber.
Distributed by APO Group on behalf of African Energy Chamber.