Sierra Leone’s Oil Sector Draws International Investors

Sierra Leone’s recent oil discoveries are attracting growing interest from international investors, signaling renewed confidence in the country’s energy sector.

The Director General of the Petroleum Directorate in the Office of the President, Engineer Foday Mansaray, confirmed that Sierra Leone holds over 30 billion barrels of recoverable oil, positioning the country as one of the most competitive in the region for fiscal policies related to oil exploration.

Sierra Leone has already secured a partnership with a leading Italian oil and gas company, demonstrating the strong appeal of its regulatory environment and investment framework. The government is encouraging other credible foreign firms to conduct detailed geological studies, which are essential to guide drilling operations and avoid costly unproductive wells.

Engineer Mansaray emphasized that these efforts are part of a strategic plan to attract private sector participation while ensuring that companies entering the sector are vetted for credibility and compliance with licensing requirements.

“The arrival of international investors reflects growing confidence in Sierra Leone’s oil sector,” he said. “We are committed to creating an environment that is both investor-friendly and responsible, ensuring that exploration benefits the country and its people.”

The government’s proactive approach, coupled with competitive fiscal policies, is expected to accelerate oil exploration and development, positioning Sierra Leone as a promising destination for global energy investment.