GOL Opens Harper Basin for Commercial Oil Discovery

The Government of Liberia (GOL), through the Liberia Petroleum Regulatory Authority (LPRA), on Wednesday officially launched the country’s 2020 Offshore Licensing Round, opening the Harper Basin for exploration activities which could lead to commercial oil discovery and exploration.

Nine offshore blocks which have been unexplored and undrilled in the Harper Basin are being offered for biding. These include LB-25, LB-26, LB-27, LB-28, LB-29, LB-30, LB-31, LB-32, and LB-33.

The Licensing Round which was launched online due to the global Coronavirus pandemic, is being conducted in three stages which include: The Prequalification, Bid Submission and Bid Evaluation/ Award. It will be conducted from April 10, 2020-February 28, 2021 to accommodate the short-term impact of covid-19.

According to geological and geophysical (G&G) insight, the Harper Basin, being the last real frontier basin within West Africa, offers significant exploration potential and several sub-commercial discoveries have proven that the petroleum systems are working offshore Liberia.

G & G Geological insights also indicates that the Harper Basin has a petroleum system similar to surrounding basins associated with the recent discoveries in Ghana, Cote d’Ivoire and also the conjugate Guyana.

President George Weah, in a statement issued for the Licensing Round, encouraged international upstream oil and gas companies and other private equity firms to participate in the License Round.

“As I launch the Liberia Offshore License Round 2020, let me officially welcome you to explore our offshore assets, system of governance, and the unparalleled hospitality of Liberians,” the Liberian Leader indicated in his statement.

He added: “Liberia has been, it is now, and continue to remain an attractive investment destination and we want to use this medium to demonstrate that the Government of Liberia provides a stable operating environment, predictable as well as flexible legal and fiscal regimes, and conducive operating environment for doing business.

In a video broadcast, the Director General of LPRA, Archie Donmo described the Harper Basin as an offshore treasure to be discovered and unearthed.

“Liberia made an announcement, in December 2019, that it will open up nine blocks within the Harper Basin in its offshore acreage. Today, I announce to you that the President of Liberia has instructed the LPRA to keep this pledge. It is a bold and brave under-taking, but doable in the interest of keeping the quest for energy resources alive in support of human civilization,” he said.

Mr. Donmo said he believed that Liberia is ready to take a leap into the future of its petroleum exploration program.

He however encouraged companies interested to apply or make request for pre-qualification within the timeframe (April 10 – October 31, 2020) stipulated by the LPRA.

The launch event coordinated by TGS, the geophysical company supporting Liberia in delivering the bid round, was well attended as over 89 participants joined from major and independent oil and gas companies. Source: Liberia Petroleum Regulatory Authority official Facebook Page