The Executive Chairman of the Petroleum Regulatory Agency (PRA), Brima M. Baluwa Koroma was among the Sierra Leone delegation that was invited by the Ministry of Energy of the Russian Federation to grace this year’s Russia Energy Week in Moscow.
The Russia energy week was held in Korovy, Moscow where potential investors and industry players were invited to discuss investment opportunities in petroleum and energy across the world.
Gracing the Deriving Benefits from the Digital Transformation of the Fuel and Energy Sector program, Chairman Baluwa met with influential Chief Executive Officers and investors in the energy, Oil and Gas industry in the Russian Federation as he presented Sierra Leone as an investment destination for Oil and Gas.
The PRA Boss underscores the important role the Sierra Leone Ambassador to Russia, Mohamed Yongawo has been playing to restore the lost confidence of investors as lots of them are now ready to return to invest in the sector.
“We held fruitful discussions with stakeholders in the oil and gas industry in Russia and we are optimistic that more investors will come after this summit,” he said.
Baluwa Koroma expressed his delight in the various sectoral meetings held and applauded H.E Yongawo for his dedicated services and love for Sierra Leone, promising that his country’s Oil and Gas industry will tap into the available opportunities to improve on the quality and quantity of supply in the Petroleum sector under the leadership of President Julius Maada Bio.
The policy objective is for Government to retake her front seat and participate within the value chain through importation, storage, and distribution of fuel. “All over the world petroleum products touches on every day’s people life, in every activity and therefore the industry should not be left in the hands of the private sector alone – the government must take it destiny in its own hands,” asserted the petroleum Boss.
Chairman Baluwa reiterated the importance of petroleum products to the production of energy as Sierra Leone stands to benefit a lot from the Oil and Gas industry in Russia”.
He envisaged that there will be a thorough turnaround in the sector in the coming years.
