- 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.

latest headlines
LEC Holds Community Engagements Against Power Theft
The Liberia Electricity Corporation (LEC) has renewed its warning to individuals engaged in power theft to desist, as it was costing government i ...more
Cuttington University Promises To Sustain EHELD Projects
The Administration of the Cuttington University has assured the Excellence in Higher Education for Liberian Development (EHELD) of its commitment ...more
Justice Banks Decline To Issue Prohibition Against Korkoyah
Supreme Court Justice-in-Chamber Philip A. Z. Banks Thursday declined to grant the writ of prohibition requested by Dr. Togba Nah Tipoteh against ...more
VP Boakai Assures LACC Of Support To Tackle Graft
Vice President Joseph N. Boakai has assured the Liberia Anti-Corruption Commission (LACC) of his unreserved commitment to tackle the scourge of c ...more
Pres. Sirleaf Congratulates Luxembourg On ‘National Day'
President Ellen Johnson Sirleaf has sent a congratulatory message to His Royal Highness, Grand Duke Henri of Luxembourg, on that country’s Nati ...more
ECOWAS Envoys Congratulate Pres. Sirleaf
The Dean of ECOWAS Ambassadors and Heads of Mission Accredited to Senegal, General Edouard Tiape Kassarate, has congratulated President Ellen Joh ...more
All rights reserved © 2013 - 2014
Liberia News Agency