LPRA Pre-Qualifies Liberian Owned Companies For Liberia Offshore License Round 2020
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 evaluation team which comprised of representatives from the National Oil Company of Liberia (NOCAL), the Ministry of Mines and Energy, Ministry of Finance the Liberia Revenue Authority, Liberia Revenue Authority (LRA) and LPRA pre-qualified the following companies: DEMUS Exploration and Production, Jungle Energy Power INC, New Millennium Oil and Gas, Africa Oil and Gas Inc, Green Petroleum (Liberia) Limited, MAC-Africa Petroleum Inc and the TSC Global Inc.
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. The Bid Round runs from April 2020-February 2021.