Monrovia – As Liberia poised to conduct its next bid round in April this year, the Liberia Regulatory Authority (LPRA) and the National Oil Company of Liberia (NOCAL) has expressed optimism over the discovery of oil this time around. Ivory Coast discovered oil just right around the same area we are going to launch the bid round,” he declared. Speaking further, he noted that there are indication that Liberia has oil as the fingerprints and the geology are there to prove that. “To realize the outcome of a bid round, the regulator must be financially liquid. The bid round allows a single oil company or a group of oil companies to apply for a ‘Production Sharing Agreement’ in a competitive and transparent environment giving them the right to search for commercial deposits of oil.

Source: Front Page Africa February 20, 2020 06:22 UTC