The Petroleum Directorate of Sierra Leone (PDSL) is delighted to announce the successful conclusion of the nation’s Fifth Offshore Petroleum Licensing Round. The bidding process officially closed at 12:00 pm GMT on Friday, September 29th, 2023, marking a significant milestone in the advancement of Sierra Leone’s oil and gas sector.

PDSL is pleased to confirm that it received multiple applications from a variety of Oil and Gas Corporations, including three prominent industry players renowned for their extensive deepwater experience. All three have pre-qualified for Exploration & Production (E&P) licenses as operators. These companies bring valuable expertise and a commitment to sustainable and responsible exploration and production, making them key partners in Sierra Leone’s offshore ventures.

The attributes assessed in these companies showcase the growing interest in Sierra Leone’s untapped offshore potential and underline PDSL’s unwavering commitment to ensuring equal opportunities for all participants and maintaining a transparent bidding process.

The next steps on the horizon involve PDSL initiating negotiations and, where necessary, seeking ratification of E&P licenses for these three companies by Parliament as soon as practicable.

The successful conclusion of this licensing round represents a significant stride in Sierra Leone’s journey toward harnessing its offshore petroleum resources for national transformation. PDSL remains steadfast in its dedication to promoting responsible exploration and production practices while maximizing the socio-economic benefits for the people of Sierra Leone.