S08 ORA 5 2020 Genesis Client_ORA Master Template - 2016 New 16/10/2020 09:38 Page 28
LICE NSI NG PROM OTIONS
ISSUE 5 2020 • WWW.OILREVIEWAFRICA.COM
NEW FRONTIERS OFFER
LATEST LICENSING OPPORTUNITIES During the Africa E&P Virtual Summit, held from 16-17 September, leaders from Liberia, Namibia, Senegal and Ghana highlighted Africa’s latest licensing opportunities and prospects with a focus on unlocking potential in these regions. Deblina Roy reports.
Liberia is encouraging investment in unexplored terrains that have good potential for success.
Image Credit: Ana/Adobe Stock
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HE MOST INTERESTING opportunities available in licensing and open acreage in Africa in 2020 and beyond are being unlocked so international bidders can explore Africa’s new oil and gas frontiers. These prospects are providing governments with an opportunity to pitch and engage the international E&P community to invest.
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Liberia’s hydrocarbon exploration activities “Liberia has has 82,000 sq km of 2D data and 24, 500 sq km of 3D data. The country has an established presence of hydrocarbon geological discovery,” said Archie Donmo, director-general of Liberia Petroleum Regulatory Authority (LPRA).
“With a flexible negotiation, Liberia is encouraging investment in areas such as unexplored terrain with top potential for success, or a basin that has never been drilled in past. Companies operating in Liberia are
Liberia’s regulatory regime is clear, uncomplicated and predictable,” said Archie Donmo, director-general of Liberia Petroleum Regulatory Authority (LPRA).
Chevron Corporation, ExxonMobil, Mitsubishi, Eni and others. In terms of regulatory instrument, we have the New Petroleum (Exploration and Production) Reform Law, 2014, FDI regulations, petroleum sharing agreements and applicable law of our legislatures.” According to Donmo, Liberia has three ways of issuing petroleum rights: the international competitive bidding process, direct negotiation and an executive allocation to the national oil company that is issuing its blocks. “Our maximum block size is around 3,500 sq km (offshore basin) and 2,000 sq km (onshore basin). Our offshore acreage has 33 oil blocks. Of them, Liberia basin is from block 1-24 and the Harper basin is from block 25-33. We are tendering about nine oil blocks
