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Sierra Leone Seeks Upstream Partners to Fast-Track Exploration, says Petroleum Directorate

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The African Energy Chamber

In an exclusive interview with the African Energy Chamber, Foday B. L. Mansaray, Director General of Sierra Leone’s Petroleum Directorate, spoke on the country’s exploration agenda to develop its hydrocarbon-rich, ultra-deep basins

JOHANNESBURG, South Africa, March 27, 2023/APO Group/ — 

The African Energy Chamber (http://www.EnergyChamber.org) – the voice of the African energy sector – spoke with Foday B. L. Mansaray, Director General of the Petroleum Directorate of Sierra Leone, in an exclusive interview on the country’s latest oil and gas developments. These include a fifth licensing round launched last May, ongoing evaluation of its gas prospects, streamlined concession terms, and an upcoming wildcat and appraisal well to be drilled later this year. 

What is the current state of Sierra Leone’s oil and gas industry?

We are still a nation in its infancy and we want to get to a stage where we can commercialize our oil and gas reserves. Over the past years, we have managed to streamline the process for application to conduct exploration works. So far, we have a Nigerian independent in our basin which – in its first evaluation conducted last year – has highlighted gas prospects. With the energy transition taking center stage, having gas in our energy mix will be crucial in driving energy security and sustainability.

Last year, Sierra Leone launched its fifth licensing round to kickstart new exploration in the country. How has engagement with operators been to date?  

The licensing round closes at the end of September and has been an excellent round so far, with very strong interest from majors, IOCs and independents that have already looked at our data and are conducting data and financial evaluation. We have 56 graticules and 63,000 ㎢ in area on offer. We also have hydrocarbon-rich, ultra-deep basins on offer through direct negotiations. We want technically-sound companies to partner with – those that can drill and have the capability to progress our exploration agenda. Our entire basin is covered with 3D and 2D data, hence there is a strong foundation for companies to advance and fast-track exploration.

How does your latest licensing round differ from previous rounds and from others being launched across the continent?

We are determined to make this round the most successful licensing round we have ever had. The conversation around energy transition is shifting slightly, with major companies approaching us to participate. We have reduced the red tape for companies to come in with very simple and straightforward terms. We have only three non-negotiable terms: a corporate income tax of 25%; a 10% royalty for oil and 5% royalty for gas; and a petroleum resources tax. The barriers to entry are very low. The period from application to ratification is 85 days, hence we have heavily improved our application period. We are also positioned within the Office of the Presidency and are very quick and nimble at making decisions.

Sierra Leone’s basins are similar to Guyana’s where huge discoveries have been made, and we are positive that we will attract major IOCs and a few independents. Once we open our doors for them to enter, we expect more firms to flood into our sector. We are willing to learn from neighbors such as Namibia and Angola to enhance our sector growth.

A key part of industrialization is driving access to energy

How is Sierra Leone prioritizing local content and skills development as its energy sector develops?

Our local content laws are very strong and the area is a very important aspect regarding how we want to develop our industry. We have existing Memoranda of Understanding (MoU) with Equatorial Guinea, The Gambia and Ghana. Last year, we sent 18 people for training in Ghana from different departments. We want to capacitate local content into our sector and ensure that we have as many qualified Sierra Leoneans as possible wherever there is a gap. We also want to focus on African local content with our neighbors because local content is key to driving industry growth. We have many programs and training that we offer around petroleum engineering and geology.

How is Sierra Leone balancing the energy transition with its need for energy security?

Our plan is to not leave our oil and gas resources in the ground. A key part of industrialization is driving access to energy. We are aware of climate change, and as we develop our resources, we will make sure our sector is ready for future business models and low-carbon operations. Our resources are more useful in shaping the energy transition and economic development when they are on the surface than in the ground, hence we will continue with drilling, development and monetization of our resources.

How is the Petroleum Directorate serving to attract new investment?  

We are very active in terms of attracting investments and promoting opportunities within Sierra Leone. We are not just waiting for investments to come to us – we are going where they are. We had very fruitful meetings and conversations with companies in Qatar around natural gas, and we will be chatting with two Italian IOCs. The industry is competitive and we need to be actively seeking investors.

What are the key investment opportunities within Sierra Leone’s energy value chain?

We have recently made a discovery with a small-to-medium upstream company and are looking for companies willing to develop that to meet our in-country energy needs. We have also signed an MoU for the development of the Nigeria-Morocco-Niger Gas Pipeline for us to tap into – as well as feed into – that pipeline to meet our demands. In the downstream sector, we are ensuring fuel security with the development of more pipes to import more fuels. The key area that will give us energy independence is exploration.

With the 2023 edition of African Energy Week being held this October, what message will you be sharing during the event and what deals do you hope to be signed?

We are closing the licensing round around the time of African Energy Week (AEW) and we plan to sign the agreements during the event. We are currently speaking to one supermajor and we want AEW to be the platform where we make a huge announcement. With the Nigerian company that is already in the basin, it will start drilling a wildcat and appraisal well later this year, so we also plan to announce the size and scope of its discovery at AEW.

Distributed by APO Group on behalf of African Energy Chamber.

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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