6.250
%
Neutral
75
mm boe
0
%
The Seychelles is a stable, tourism-driven economy that changed government peacefully in 2025. Offshore licensing has generated interest but no discoveries. Outlook maintained because there has been no material change. Outlook: Neutral. Risk premia unchanged at 6.25%.
October 7, 2026
Africa - East
mm bbl
bcf
Eastern Africa, a group of islands in the Indian Ocean, northeast of Madagascar.
Concession
Concession (royalty/tax) regime. Acreage is awarded by PetroSeychelles under the Petroleum Mining Act 1976 through petroleum agreements, with a royalty and tax under the Petroleum Income Tax Act, including an additional profits tax once a return threshold is reached. The Joint Management Area on the Mascarene Plateau is administered jointly with Mauritius. Exploration has been limited to frontier seismic and a handful of historical wells, with no discovery.
Patrick Herminie won the October 2025 presidential run-off, unseating Wavel Ramkalawan. US and UK guidance describe a stable, tourism-driven economy with a growing offshore financial sector, but note corruption concerns and a small market. There is no hydrocarbon production; offshore licensing has generated interest but no discoveries, and power relies on imported fuel.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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