As COVID-19 threatens to disrupt many economic activities across Sierra Leone and the world at large, the Director General of the Petroleum Directorate, Timothy Musa Kabba has calmed the nerves of petroleum dealers.
Timothy Musa Kabba says global politics; economic spleen at the global arena, emergence of the Permian Basin in America and the outbreak of COVID-19 has affected the oil and gas industry in Sierra Leone and the world. Timothy Kabba was speaking to AYV about the Directorate’s successes and challenges since the Corona outbreak.
Since the outbreak of the COVID-19, the petroleum industry like any other industry has deteriorated in terms of prize in demand. The oil and gas market has not experience that for the past two-two decades. However, amidst these difficulties the directorate has been able run licenses round that were widely acclaimed to be simple pragmatic and very much progressive.
The Directorate was established to facilitate the optimal exploration and development of Sierra Leone’s Potential Petroleum Resources for the long term benefit of its people, through the development of regulatory guidelines and monitoring contract compliance. Timothy Kabba noted that, they are running a sector that is quite competitive but that they are resource constrains, citing that, external challenges are bound and oil and gas prizes are not at their best.
Meanwhile, The Petroleum Directorate, Director General noted that, it has been proven that the country has oil and gas potentials from proven surveys and exploration activities but that it stopped when Ebola broke in and oil prizes went down.