The Petroleum Directorate of Sierra Leone (PDSL) has partnered with African Energy Week (AEW): Invest in African Energies 2025, reinforcing the country’s commitment to global energy collaboration. The move highlights Sierra Leone’s ambition to unlock its hydrocarbon potential and position itself as a key player in the oil and gas industry.
AEW: Invest in African Energies has become the go-to platform for project operators, financiers, and policymakers seeking investment and partnership opportunities in Africa’s energy sector. PDSL’s involvement signals Sierra Leone’s readiness to showcase its vast offshore oil resources and attract global investors eager to tap into one of the continent’s most promising frontier markets.
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Unlocking Sierra Leone’s oil potential
Sierra Leone’s offshore oil reserves are estimated at 15 to 20 billion barrels of light, sweet crude, with an API ranging from 35 to 42. This, combined with the country’s strategic location, growing exploration activities, and investor-friendly policies, makes it an attractive destination for energy players. Anadarko and Lukoil have already made four major discoveries—Venus-B1, Mercury-1, Jupiter-1, and Savannah-1X—demonstrating the country’s resource potential. Additionally, extensive 2D and 3D multi-client seismic data provide further opportunities for exploration.
As part of its fifth licensing round, concluded in September 2023, Sierra Leone awarded six offshore blocks to Nigerian firm F.A. Oil. The company is now seeking financial and technical partners, with early studies indicating up to 2 billion barrels of hydrocarbons in place. The licensing round covered over 63,000 km² of highly prospective acreage, signaling Sierra Leone’s push to establish itself as a major oil hub.
Strengthening energy infrastructure and investment climate
Sierra Leone is in the final stages of establishing its first national oil company (NOC), which will hold a 10% stake in all exploration licenses. The government aims to increase this to 25-30% through negotiations while maintaining competitive fiscal terms, including investor-friendly stabilization clauses. Plans are also underway for the country’s first offshore drilling campaign and the development of a refinery to reduce reliance on imported refined products, currently averaging 15,000 barrels per day. These initiatives are part of a broader oil and gas master plan designed to maximize local benefits and value addition.
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Positioning for growth at AEW 2025
“The Petroleum Directorate of Sierra Leone’s participation in African Energy Week (AEW): Invest in African Energies 2025 is a testament to the country’s commitment to unlocking its hydrocarbon resources and fostering global investment,” said Tomás Gerbasio, Vice President of Commercial and Strategic Engagement at the African Energy Chamber. “AEW is more than a conference—it is the platform for forging lasting and impactful partnerships that will shape Sierra Leone’s energy landscape.”
Sierra Leone’s presence at AEW 2025 will put the country’s offshore potential in the spotlight, giving global investors a closer look at its exploration opportunities and investment-friendly policies. By leveraging AEW as a platform for engagement, Sierra Leone is taking strategic steps toward becoming a key player in Africa’s energy future.