ACQUISITION OF 2D LONG OFFSET DATA IN THE OFFSHORE WATERS OF SIERRA LEONE.

The Petroleum Directorate will soon commence the acquisition of 2D seismic data over the country’s offshore prospects. This project will be implemented through a key technical, Geopartners who has put together a robust program of action for the smooth implementation of this need-driven project.

This plan has been applauded within industry circles largely due to its potential for cost and time savings on the part of potential investors, who will subsequently have additional saved resources that could be used on other pressing requirements.

On completion, the project will add significantly to the existing body of Geological and Geophysical data, and corresponding information and knowledge about the petroleum potential of the sub region.

Timothy Kabba Makes a Special Business Case for Investing in Sierra Leone

Director General of Petroleum Directorate, Timothy Kabba has again made a compelling presentation on Sierra Leone’s suitability as a host for investment in the upstream Oil and Gas sub-sector. Mr. Kabba was one of five panelists that deliberated on the topic: ‘Competing for Upstream Investment-Rewriting Africa’s Story’,   in the just concluded IHS Markit CERAWeek 2019, hosted in Houston Texas.

 

The IHS Markit CERAWeek is the world’s premier energy event held annually, and attended by the world’s top industry leaders and influencers, to evaluate the state of the industry, storm on how emerging challenges can be managed, and chart a future path for the wider energy industry, among other things.  CERAWeek 2019 registered 8,000 participants!

 

Alongside the Energy Ministers of Kenya, Ghana, Equatorial Guinea and South Sudan, Mr. Kabba highlighted Sierra Leone’s comparative advantages which he noted to include both below ground and above ground factors. The promising geology as reflected in previous successive discoveries-constitutes the subsurface factors, whilst the above ground variables include stable business environment with  guaranteed property rights; availability, accessibility and affordability of substantial  quantities of  2D, 3D seismic and well data; use and repatriation of freely convertible currencies; adoption of an open and competitive bidding system and an inclusive  and fair appraisal and approval of investment proposals, and an unambiguous consent system designed to facilitate fast-tracked work programmes; fiscal and non-fiscal incentives; and above all, an unprecedented political commitment that is aimed at ensuring a business environment that can attract and retain foreign direct investment in a sustained manner, and eventually transform the private sector into an independent, and robust engine of growth, rather than a government-dependent sector.

Mr. Kabba used the occasion to pre-announce the re-launch of the Fourth Petroleum License Round which was unavoidably paused, pending industry consultations, which has been successfully concluded with feedback informing the chosen course of action.

 

The event was also used as a national image re-branding opportunity particularly during the Q & A segment whereby enthusiastic participants expressed desire to get more primary information on the investment opportunities at home, to the extent that a range of hitherto unanticipated bilateral meetings were prompted and held at the margins of the main event, with inflow of positive feedback indicative of the state of readiness of small independents,  as well as big players to partake in the impending re-launched Fourth Licensing Round, which is expected to be formally announced at any time.

Inviting expressions of interest for long offset 2D multi-client seismic acquisition

The Petroleum Directorate is pleased to invite expressions of interest for long offset 2D multi-client seismic acquisition offshore Sierra Leone. Please express interest to Director General Mr Timothy M. Kabba via email by 30th September at: timothy.kabba@pd.gov.sl / directorgeneral@pd.gov.sl

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January 2017 – US Ambassador visit the Sierra Leone Petroleum Directorate

The Ambassador of the United States of America in Sierra Leone, John Hoover, on Wednesday January 25, 2017, promised to do his utmost to convince foreign investors, especially oil companies in the US to visit the newly established data room at the Petroleum Directorate.

He was speaking during a briefing session with the management and staff of the directorate at their Hill Station Office in Freetown.

Prior to the meeting, Ambassador Hoover was taken on a conducted tour of the eight work stations and data room by the Director General of the Petroleum Directorate, Raymond S. Kargbo. On behalf of his team, Kargbo then gave a general overview of the progress made so far by the directorate. Read more