{"id":52263,"date":"2024-02-16T08:27:15","date_gmt":"2024-02-16T08:27:15","guid":{"rendered":"https:\/\/www.africa-press.net\/liberia\/all-news\/nocal-officer-in-charge-highlights-prospects-of-liberias-hydrocarbon-sector-to-investors-at-saipec-conference-in-nigeria"},"modified":"2024-02-16T09:13:48","modified_gmt":"2024-02-16T09:13:48","slug":"nocal-officer-in-charge-highlights-prospects-of-liberias-hydrocarbon-sector-to-investors-at-saipec-conference-in-nigeria","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/liberia\/all-news\/nocal-officer-in-charge-highlights-prospects-of-liberias-hydrocarbon-sector-to-investors-at-saipec-conference-in-nigeria","title":{"rendered":"NOCAL Officer-in-Charge Highlights Prospects of Liberia\u2019s Hydrocarbon Sector to Investors at SAIPEC Conference in Nigeria"},"content":{"rendered":"

Africa-Press – Liberia. <\/strong><\/span>The Officer-In-Charge of the National Oil Company of Liberia (NOCAL), Mr. Jacob Kabakole, has told oil and gas experts attending the Sub Saharan Africa International Petroleum Exhibition and Conference<\/b> (SAIPEC) Conference in Lagos, Nigeria, that Liberia is a prime destination for energy ventures, backed by substantial reserves and supportive governmental frameworks.<\/p>\n

\u201cLiberia sits on a highly prospective petroleum basin with established petroleum systems made by discoveries with significant reserves potential in the basin,\u201d Kabakole declared, underlining the nation\u2019s rich resource endowment. He revealed that Liberia boasts an extensive repository of seismic data, covering over Thirty-Four Thousand kilometers of 2D seismic data and Twenty Four Thousand Square Kilometers of 3D seismic coverage, courtesy of their partner TGS NOPEC.<\/p>\n

Kabakole delineated the available investment avenues, highlighting two principal options: Executive Allocation to NOCAL and Direct Negotiations. He elucidated that the New Petroleum E&P Law, amended in October 2019, empowers NOCAL to engage in direct talks with companies, offering a 100% interest allocation to the state-owned enterprise. Additionally, prospective investors can opt for Direct Negotiations facilitated by the Liberia Petroleum Regulatory Authority (LPRA), with all Thirty-Three blocks open for exploration.<\/p>\n

Expanding beyond upstream opportunities, Kabakole unveiled NOCAL\u2019s plans for infrastructure development, including the establishment of a shore-base and tank farm near the Port of Buchanan. The shore-base aims to cater to operational and logistical needs during exploration activities, while the tank farm endeavors to enhance Liberia\u2019s storage capacity to meet burgeoning market demands, particularly driven by mining activities.<\/p>\n

Highlighting Liberia\u2019s commitment to peace and security, Kabakole emphasized the nation\u2019s strides toward democracy and adherence to international best practices under the leadership of President Joseph Nyumah Boikai Sr. He extended a warm invitation to prospective investors, affirming Liberia\u2019s readiness to embrace partnerships across various sectors.<\/p>\n

Kabakole expressed gratitude for the opportunity to address the distinguished gathering, reiterating Liberia\u2019s eagerness to collaborate with global stakeholders in driving forward its oil and gas industry.<\/p>\n

For More News And Analysis About Liberia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Liberia. The Officer-In-Charge of the National Oil Company of Liberia (NOCAL), Mr. Jacob Kabakole, has told oil and gas experts attending the Sub Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) Conference in Lagos, Nigeria, that Liberia is a prime destination for energy ventures, backed by substantial reserves and supportive governmental frameworks. \u201cLiberia […]<\/p>\n","protected":false},"author":84,"featured_media":52262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,237,234],"class_list":["post-52263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-liberia","tag-liberia"],"yoast_head":"\nNOCAL Officer-in-Charge Highlights Prospects of Liberia\u2019s Hydrocarbon Sector to Investors at SAIPEC Conference in Nigeria - Liberia<\/title>\n<meta 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