Sierra Leone promotes offshore licensing, upstream potential at Paris energy forum

(WO) - Sierra Leone is stepping up efforts to attract upstream investment, highlighting its offshore oil and gas potential and upcoming licensing opportunities at the Invest in African Energy (IAE) Forum in Paris. 

The Petroleum Directorate of Sierra Leone (PDSL) is engaging with investors as the country prepares to launch its sixth offshore licensing round, offering access to largely underexplored deepwater acreage. Officials are positioning the bid round as an early-entry opportunity in a frontier basin with significant resource potential.

Recent estimates suggest Sierra Leone’s offshore may hold tens of billions of barrels of recoverable resources, supported by discoveries and expanding seismic coverage. Newly available 3D datasets, including recent pre-stack time migration data, are expected to improve subsurface understanding and help de-risk exploration activity.

The licensing push comes as international operators increase interest in the basin. Eni signed a reconnaissance permit in 2025 covering multiple offshore blocks, while Nigeria’s F.A. Oil is advancing plans for drilling across six awarded blocks and is seeking a farm-in partner to progress development.

At the Paris forum, PDSL is expected to outline fiscal terms, regulatory frameworks and development timelines aimed at attracting capital and accelerating exploration.

The government is seeking to position Sierra Leone as a competitive offshore jurisdiction in West Africa, leveraging its proximity to established producing regions and growing demand for new exploration opportunities.

With fresh seismic data, active licensing plans and increasing operator engagement, Sierra Leone is signaling renewed momentum in its upstream sector as it looks to convert prospective resources into future production.