By Sallieu S. Kanu
The Petroleum Directorate of Sierra Leone will be coming to Cape Town to attend and participate at this year’s edition of the African Energy Week (AEW) conference and exhibition – Africa’s premier event for the oil and gas sector which will take place from October 18 – 21 – as a bronze sponsor, according to press statement issued by APO Group on behalf of AEW.
With AEW 2022 representing the best platform where energy investment and market optimization deals are discussed, negotiated and signed, and Sierra Leone seeking to attract foreign direct investment to maximize exploration activities and infrastructure development, the participation of the Petroleum Directorate as a bronze sponsor will be crucial for driving upstream oil and gas investment in the West African country.
Since its establishment in 2003, the Petroleum Directorate of Sierra Leone has played an active role in promoting the country’s hydrocarbon market potential. Responsible for the enactment of competitive fiscal terms, the launch of massive exploration campaigns and for forging strategic partnerships with international oil companies (IOCs) and regional parties such as the Ghana National Petroleum Corporation (GNPC) as well as the Ministry of Mines and Hydrocarbons of Equatorial Guinea, the Directorate has and continues to be instrumental in unlocking its resources and leveraging regional partnerships.
Now, with the regulator launching the country’s fifth licensing round in 2022 and seeking improved collaboration with IOCs and other African oil and gas-producing countries and companies, AEW 2022 presents the best platform for Sierra Leone to fast track its oil and gas market development. Following the discovery of an estimated recoverable resource of 8.2 trillion cubic feet of gas and 234 million barrels of oil by Innoson Oil and Gas in the country in April 2021 and the launch of new drilling campaigns, Sierra Leone is on the cusp of major oil and gas discoveries. As such, numerous opportunities are available for investors as the country pursues accelerated development in 2022 and beyond.
“The Chamber welcomes the Petroleum Directorate of Sierra Leone as a bronze sponsor at this year’s edition of AEW. With Sierra Leone moving with great determination towards the prosperity of its hydrocarbons sector, AEW 2022 is the best place for game changing energy deals to be signed. With only 26% of the population in the country having access to electricity, hydrocarbon resources will play a key role in boosting electrification and driving socioeconomic growth. In this regard, the Chamber is keen to expand cooperation with the directorate to ensure the country realizes its energy security goals,” states NJ Ayuk, the Executive Chairman of the African Energy Chamber (AEC), adding that, “The time to invest in African oil and gas is now, and countries such as Sierra Leone offer lucrative opportunities that the Chamber urges investors to seize.”
Representing both a burgeoning and highly attractive hydrocarbons market, the presence of the Petroleum Directorate of Sierra Leone at AEW will be crucial for shaping important discussions around the best approaches for maximizing the exploration, production and exploitation of hydrocarbon resources to make energy poverty history across Africa by 2030.
As a bronze sponsor, the Petroleum Directorate of Sierra Leone will have access to exclusive networking forums and panel discussions at AEW 2022 – Africa’s biggest and most diverse energy event – where the regulator will promote investment opportunities across Sierra Leone’s upstream and midstream segments whilst networking with potential project partners and investors as the country seeks to position itself as a net producer of hydrocarbons.