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              Mutawakilu appointed Acting Managing Director of Ghana Water Ltd

              Ghana Water issues alert on Weija Dam spillage

              Tanzania:TPA eyes over $511m revenue with port expansion

              Tanzania:TPA eyes over $511m revenue with port expansion

              Kenya’s tourism sector booms $3.5bn revenue

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              Kenya seeks to expand tea exports to China

              Kenya seeks to expand tea exports to China

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              Botswana: Govt, BDU agree on healthcare boost

              South Africa’s CEF merges PetroSA, iGas, SFF for economic growth

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              • FEATURES
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                Meet Netumbo Nandi-Ndaitwah: Namibia’s First Female President

                Meet Netumbo Nandi-Ndaitwah: Namibia’s First Female President

                Meet Haruna Iddrisu: The Politician, Lawyer, and Latest  Minister of Ghana’s Ministry of Education

                Meet Haruna Iddrisu: The Politician, Lawyer, and Latest  Minister of Ghana’s Ministry of Education

                Meet Agnes Naa Momo Lartey: The Minister Designate for the Ministry of Gender, Children and Social Protection in Ghana

                Meet Agnes Naa Momo Lartey: The Minister Designate for the Ministry of Gender, Children and Social Protection in Ghana

                Meet Justina Nelson: A Banking Visionary and Strategic Leader Who Takes Over MIIF as Acting Chief Executive Officer

                Meet Justina Nelson: A Banking Visionary and Strategic Leader Who Takes Over MIIF as Acting Chief Executive Officer

                Meet Nigeria’s Newly Nominated Ministers

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                Nigeria’s $5 billion FLNG project gets Presidential endorsement

                FULL TEXT: President of Nigeria 2024 Independence Day speech

                Senegal: Bassirou Diomaye Faye to become Africa’s youngest elected president

                Senegal: Bassirou Diomaye Faye to become Africa’s youngest elected president

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                • DIGITAL ECONOMY
                  Tanzania signs deal with Cuban firm to enlarge TBPL

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                  Meet Netumbo Nandi-Ndaitwah: Namibia’s First Female President

                  Namibia: President Nandi-Ndaitwah unveils new cabinet

                  Kenya: Ministry of Health outlines SHA compliance measures

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                  South Africa: Durban Port to expand vehicle terminal

                  South Africa: Durban Port to expand vehicle terminal

                  Botswana, Türkiye aim for stronger ties

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                  Nigeria to host 2025 Afreximbank annual meetings

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                  Ghana:Adjei reaffirms commitment to expanding urban water supply

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                  Kenya Government Embarks on County Industrialization Initiative to Boost Trade and Employment

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                  • INTERVIEW
                    Botswana Stock Exchange’s Strategic moves to attract foreign investors: Insights from CEO ; Kopano Bolokwe

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                    Transforming Botswana’s Public Service: Gaone Manzini on Leadership, Integrity, and Vision for the Future

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                    Sierra Leone Seeks Upstream Partners to Fast-Track Exploration, says Petroleum Directorate

                    Sierra Leone Seeks Upstream Partners to Fast-Track Exploration, says Petroleum Directorate

                    Ghana’s registra department: driving digitization for effecient services

                    Ghana’s registrar department: driving digitization for efficient services

                    Nigerian’s First Lady Aisha Buhari in Talks on Plans After Husband’s Presidency

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                    Cedi expected to end 2020 with less than 5% depreciation to dollar Says Expert

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                    “Citizen Gate is Designed to bring the government closer to the people”- Mr. Toba Otusanya, DG, Lagos State Office of Transformation, Creativity & Innovation

                    “Citizen Gate is Designed to bring the government closer to the people”- Mr. Toba Otusanya, DG, Lagos State Office of Transformation, Creativity & Innovation

                    I cherish and treasure my reputation for probity and accountability,– Dr. Babatunde Ajibade, SAN

                    I cherish and treasure my reputation for probity and accountability,– Dr. Babatunde Ajibade, SAN

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                      Ghana: Vice President Bawumia launches Credit Scoring System

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                      FAAN MD Olubunmi Oluwaseun Kuku has emerged as Public Sector Global CEO of the Week

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                      Sam Shivute, Commissioner General, Namibia Revenue Agency has Emerged as Public Sector Global CEO of the Week

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                      Ms. Hapiloe Sello, Chief Executive Officer, South African National Parks has Emerged as Public Sector Global CEO of the Week

                      Dr. Douglas Letsholathebe, Minister of Education and Skills Development, Botswana has Emerged as Public Sector Global Minister of the Week

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                      Bashir Adewale Adeniyi MFR, Comptroller General, Nigeria Customs Service has Emerged as Public Sector Global CEO of the Week

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                      Ms. Latifa Mohamed Hamis, Director General, Tanzania Trade Development Authority, has Emerged as Public Sector Global CEO of the Week

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                      The Minister of Health, Morocco, Hon. Khalid Ait Taleb has Emerged as Public Sector Global Minister of the Week

                      The Minister of Health, Morocco, Hon. Khalid Ait Taleb has Emerged as Public Sector Global Minister of the Week

                      Esther Ngari Emerges Public Sector Global ‘CEO of the Week’

                      Esther Ngari Emerges Public Sector Global ‘CEO of the Week’

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                      Home INTERVIEW

                      Sierra Leone Seeks Upstream Partners to Fast-Track Exploration, says Petroleum Directorate

                      Public Sector Global by Public Sector Global
                      March 27, 2023
                      in INTERVIEW
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                      Sierra Leone Seeks Upstream Partners to Fast-Track Exploration, says Petroleum Directorate
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                      In an exclusive interview with the African Energy Chamber monitored by Public Sector Global Magazine, Foday B. L. Mansaray, Director General of Sierra Leone’s Petroleum Directorate, spoke on the country’s exploration agenda to develop its hydrocarbon-rich, ultra-deep basins.

                      The interview focused on Sierra Leone’s latest oil and gas developments. These include a fifth licensing round launched last May, ongoing evaluation of its gas prospects, streamlined concession terms, and an upcoming wildcat and appraisal well to be drilled later this year.

                      What is the current state of Sierra Leone’s oil and gas industry?

                      We are still a nation in its infancy and we want to get to a stage where we can commercialize our oil and gas reserves. Over the past years, we have managed to streamline the process for application to conduct exploration works. So far, we have a Nigerian independent in our basin which – in its first evaluation conducted last year – has highlighted gas prospects. With the energy transition taking center stage, having gas in our energy mix will be crucial in driving energy security and sustainability.

                      Last year, Sierra Leone launched its fifth licensing round to kickstart new exploration in the country. How has engagement with operators been to date?  

                      The licensing round closes at the end of September and has been an excellent round so far, with very strong interest from majors, IOCs and independents that have already looked at our data and are conducting data and financial evaluation. We have 56 graticules and 63,000 ㎢ in area on offer. We also have hydrocarbon-rich, ultra-deep basins on offer through direct negotiations. We want technically-sound companies to partner with – those that can drill and have the capability to progress our exploration agenda. Our entire basin is covered with 3D and 2D data, hence there is a strong foundation for companies to advance and fast-track exploration.

                      How does your latest licensing round differ from previous rounds and from others being launched across the continent?

                      We are determined to make this round the most successful licensing round we have ever had. The conversation around energy transition is shifting slightly, with major companies approaching us to participate. We have reduced the red tape for companies to come in with very simple and straightforward terms. We have only three non-negotiable terms: a corporate income tax of 25%; a 10% royalty for oil and 5% royalty for gas; and a petroleum resources tax. The barriers to entry are very low. The period from application to ratification is 85 days, hence we have heavily improved our application period. We are also positioned within the Office of the Presidency and are very quick and nimble at making decisions.

                      Sierra Leone’s basins are similar to Guyana’s where huge discoveries have been made, and we are positive that we will attract major IOCs and a few independents. Once we open our doors for them to enter, we expect more firms to flood into our sector. We are willing to learn from neighbors such as Namibia and Angola to enhance our sector growth.

                      How is Sierra Leone prioritizing local content and skills development as its energy sector develops?

                      Our local content laws are very strong and the area is a very important aspect regarding how we want to develop our industry. We have existing Memoranda of Understanding (MoU) with Equatorial Guinea, The Gambia and Ghana. Last year, we sent 18 people for training in Ghana from different departments. We want to capacitate local content into our sector and ensure that we have as many qualified Sierra Leoneans as possible wherever there is a gap. We also want to focus on African local content with our neighbors because local content is key to driving industry growth. We have many programs and training that we offer around petroleum engineering and geology.

                      How is Sierra Leone balancing the energy transition with its need for energy security?

                      Our plan is to not leave our oil and gas resources in the ground. A key part of industrialization is driving access to energy. We are aware of climate change, and as we develop our resources, we will make sure our sector is ready for future business models and low-carbon operations. Our resources are more useful in shaping the energy transition and economic development when they are on the surface than in the ground, hence we will continue with drilling, development and monetization of our resources.

                      How is the Petroleum Directorate serving to attract new investment?  

                      We are very active in terms of attracting investments and promoting opportunities within Sierra Leone. We are not just waiting for investments to come to us – we are going where they are. We had very fruitful meetings and conversations with companies in Qatar around natural gas, and we will be chatting with two Italian IOCs. The industry is competitive and we need to be actively seeking investors.

                      What are the key investment opportunities within Sierra Leone’s energy value chain?

                      We have recently made a discovery with a small-to-medium upstream company and are looking for companies willing to develop that to meet our in-country energy needs. We have also signed an MoU for the development of the Nigeria-Morocco-Niger Gas Pipeline for us to tap into – as well as feed into – that pipeline to meet our demands. In the downstream sector, we are ensuring fuel security with the development of more pipes to import more fuels. The key area that will give us energy independence is exploration.

                      With the 2023 edition of African Energy Week being held this October, what message will you be sharing during the event and what deals do you hope to be signed?

                      We are closing the licensing round around the time of African Energy Week (AEW) and we plan to sign the agreements during the event. We are currently speaking to one supermajor and we want AEW to be the platform where we make a huge announcement. With the Nigerian company that is already in the basin, it will start drilling a wildcat and appraisal well later this year, so we also plan to announce the size and scope of its discovery at AEW.

                      Tags: African Energy ChamberFoday B. L. MansaraySierra Leone’s Petroleum Directorate
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