- Search Results
 
 
President Requests House.....
Date Uploaded: Dec 16, 2014

President Ellen Johnson Sirleaf

 

 

 

President Requests House To Ratify Oil Block 16
BY Winnie Dixon/LINA

MONROVIA, December 16 (LINA) – President Ellen Johnson Sirleaf has requested the House of Representatives (HOR) to speedily ratify a Production Sharing Contract (PSCs) between the government and contractors for oil block LB16.

According to the Liberian leader, the PSC will generate the needed revenue for the country and the National Oil Company of Liberia (NOCAL), and set precedents for Liberians to participate actively in the sector.

In a communication to the body dated December 15, President Sirleaf named the contractors as the United States based Oil Company, Liberty
Petroleum Corporation; an oil exploration company from Nigeria, Pillar Oil Limited and a private Liberian-owned entity, Millennium Corporation.

She added that the PSC bid seeks to maximize signature bonuses that would help address the financial constraints Liberia is faced with and increase the prospects for commercial oil discovery and development.

The Liberian Leader further indicated that the bid was the highest with a signature bonus of US$10, 500, 000.00 and an additional US$11,
500.000.00 for the acquisition of seismic data for LB16.

It can be recalled that in June 2014, NOCAL commenced bidding processes, which included the hiring of an international auditing and consulting firm, Ernst and Young to provide independent oversight to ensure the process conformed to international standards.

Following the reading of the communication, the HOR forwarded it to its committees on Concessions and Investments; Lands, Mines and Energy; Contracts and Monopoly; and Judiciary for  a quick review and report on Thursday, December 18.
LINA

latest headlines
Judge Kaba Reserves Ruling In E.J. Roye Building Case
Judge Yussuf D. Kaba of the Civil Law Court has reserved ruling in a motion for Declaratory Judgment filed by some individuals calling themselves ...more
CENTAL Raises Eyebrow About Political Parties Spending
The Center for Transparency and Accountability in Liberia (CENTAL) has expressed concern over the expenditure of political parties on fleets of n ...more
LTA, Partners End Int’l Internet Workshop
The Liberia Telecommunications Authority (LTA) and partners have ended a two-day international workshop on ICANN (the Internet Cooperation for As ...more
Liberia To Host GIABA Plenary, Ministerial Meetings
Liberia will host the Intergovernmental Action Group against Money Laundering in West Africa (GIABA) 27th Technical Commission/Plenary and 17th M ...more
GOL, Sweden Sign US$21.6m Accord On Feeder Roads In 7 Counties
The Governments of Liberia and Sweden have signed a US$21.6 million agreement to support the third phase of the Liberia-Swedish Feeder Roads Proj ...more
Defense Ministry Relaxes Camp Ramrod Eviction
The Ministry of Defense has with immediate effect put on hold its notice of eviction to inhabitants of the 72nd Camp Ramrod Barracks in Paynesvil ...more
 
All rights reserved © 2013 - 2014
Liberia News Agency