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 reform, besides slump in oil prices and the Ebola crisis, resorted to temporary dormancy within the sector. But after the passage of the New Petroleum and Reform Law of 2014, and the setting up of the LPRA, Government is now in a position to proceed with the tendering process. The LPRA discloses the next round of bidding, expected to commence in April 2020, will affect blocks within Harper Basin, Maryland County, southeast Liberia.The 2019 amendment to the New Petroleum Law triggered a re-demarcation process, resorting into nine (9) blocks within the Harper Basin and 24 blocks within the entire Liberia Basin. The Harper Basin, which covers nine blocks from LB-25 to LB33, will be tendered during the 2020 licensing round.

Source: GNN Liberia December 11, 2019 22:30 UTC