Petroleum Directorate Sierra Leone (PDSL) is delighted to announce the successful closure of the Nation’s Fifth Offshore Petroleum Licensing Round. The bidding process terminated promptly at noon GMT on Friday the 29th of September 2023, marking a significant milestone in the development of the country’s oil and gas sector.
PDSL is further pleased to confirm that several applications were received from a range of Oil and Gas Corporations, including three prominent industry players with extensive deepwater experience, which have all pre-qualified for Exploration and production licenses as operators.
The companies’ respective expertise and commitments to sustainable and responsible exploration and production make them valuable partners for Sierra Leone’s offshore endeavours. PDSL is very pleased with the assessed attributes of these companies, which in part is a demonstration of the growing interest in the country’s untapped offshore potential and a demonstration of PDSL’s continued commitment to equal opportunities for all participants and a transparent bidding process. As the obvious next steps, PDSL intends to initiate negotiations, and where necessary, have E&P licenses for these three companies ratified by Parliament as soon as practicable. The successful conclusion of this licensing round marks a crucial step forward in Sierra Leone’s journey towards harnessing its offshore petroleum resources for national transformation. The PDSL remains dedicated to promoting responsible exploration and production practices while maximizing the socio-economic benefits for the people of Sierra Leone.
For further information on investment opportunities in Sierra Leone’s Petroleum sector.
