PetroSeychelles Ltd was created as a parastatal company in 2012, responsible for regulating the upstream petroleum sector and overseeing all exploration activities in Seychelles, to implement the petroleum policy and strengthen Government capabilities in dealing with the exploration for, the exploitation of, or other activities related to enhancing the value of the petroleum resources in Seychelles.
The company currently reports to the Ministry of Fisheries and Blue Economy and is governed by a Board of Directors. As part of its licensing functions, PetroSeychelles Ltd is responsible for the preparation and negotiation of agreements and for maintaining a licenses database. PetroSeychelles Ltd is also responsible for maintaining an up-to-date database of potential Petroleum and hydrocarbon deposits in the EEZ, which can be disseminated to interested parties.
PetroSeychelles Ltd promotes interest in petroleum exploration sector in the Seychelles amongst the international oil companies to ensure energy security, to attract foreign investments and promote a healthy economy for a more sustainable future.