The Government of Liberia through the Liberia Petroleum Regulatory Authority (LPRA) announces sale of several blocks here, beginning next licensing round.A statement from the Liberia Petroleum Regulatory Authority says the decision followed an unsuccessful ratification of negotiated petroleum sharing contracts in 2014, which climaxed the last round of bidding process.
The statement issued over the weekend notes the Government of Liberia made a shrewd and progressive decision, through a robust reform process to provide efficient institutional governance system, maximize revenue from potential petroleum resources, and promote citizens’ participation.
The statement says this is a watershed moment for Liberia and the LPRA is excited to reach an agreement with all parties, including TGS and NOCAL in promoting Liberia’s offshore average and attracting investments that would support for the Pro-Poor Agenda for Prosperity and Development (PAPD) under the leadership of President George Manneh Weah.
Meanwhile, a formal announcement on the actual licensing data in 2020 will be made shortly by President Weah, based on recommendation from the LPRA, working in concert with NOCAL and TGS.
Liberia had sold several oil blocks during the former Sirleaf administration but the ex-regime said deposits found did not meet commercial value, and the NOCAl became insolvent under Mr. Robert Sirleaf, son of Madam Sirleaf, and she took full responsibility under her watch.
In addition to this, NOCAL has confirmed their attendance at the 6th Annual Upstream West Africa Summit 2020, which is taking place next June 17th-18th 2020 in The Gambia. Further details on their delegation and an update on the licensing round to follow in due course.