Monrovia – Following a vigorous evaluation of Liberian companies who applied to be prequalified for the country’s ongoing Offshore License Round for the Harper Basin, The Liberia Petroleum Regulatory Authority (LPRA) has pre-qualified seven Liberian Companies. Nine companies expressed interest to be pre-qualified but the evaluation panel denied two companies for lack of legal and financial competence. The pre-qualification of Liberian companies is in line with the New Petroleum Law of Liberia which sets aside a mandatory minimum 5% equity interest in all petroleum agreements to companies owned by natural persons of Liberian citizenship. The list of Liberian companies that has been pre-qualified by the LPRA will be submitted to qualified international bidders for possible partnership in fulfillment of the amended petroleum law. Nine oil offshore blocks which have been unexplored and undrilled in the Harper Basin are being offered for biding.

Source: Front Page Africa August 30, 2020 22:52 UTC