The Director General of Liberia Petroleum Regulatory Authority (LPRA), Ms. Marilyn Logan has showcased Liberia’s hydrocarbon potential and its upcoming rounds of Direct Negotiations at the prestigious Offshore Technology Conference (OTC) in Houston Texas. The OTC, a gathering of global energy professionals and business executives, provided an ideal platform for promoting the Liberian basin and its upcoming licensing round.
In separate meetings with oil and gas business executives and leaders of oil & gas regulatory agencies from Ghana and Nigeria, Ms. Logan highlighted Liberia’s new and mutually beneficial fiscal regime for oil and gas concessions. “Liberia is ready for a new round of Direct Negotiation, and our administration is committed to ensuring a transparent process that yields mutually beneficial outcomes for Liberia and its partners,” Ms. Logan stated. She emphasized the Joseph Boakai Administration’s commitment to high ethical standards and responsible business practices and provided detailed information on the LPRA’s new streamlined investment process to business leaders that expressed interest in Liberia.
Her discussions with her regulatory counterparts from Ghana and Nigeria focused on an ongoing formation of a regional regulatory mechanism. She expressed Liberia’s readiness to contribute to the process which aims to strengthen regulatory alignment among West African countries. She emphasized the importance of aligning key regulatory issues in the oil and gas sector to ensure sustainable hydrocarbon exploitation in the region.
In Europe, at the Africa Energies Summit, Mr. Rufus Tarnue, LPRA’s Deputy Director General for Technical Services, showcased the exciting prospects in Liberia oil & gas sector to a cross-section of oil & gas business leaders. “Liberia’s mature and advanced source rock, effective sea horizon and other geological features which are significantly similar to those in oil producing field including jubilee in Ghana and Liza-1 in Guyana make Liberia a prime location for commercial hydrocarbon discovery” Mr. Tarnue told his audience.
Liberia’s participation at the Offshore Technology Conference and the Africa Energies Summit underscores its commitment to revitalizing its oil and gas industry, leveraging networking opportunities, increasing the country’s visibility, and actively engaging with industry leaders and other regulators. The OTC and AES conferences are invaluable forums for generating and exchanging innovative solutions and building consensus on pressing topics facing the offshore energy sector. Both forums provide a platform to showcase offshore potential. The meetings and presentation of the Director General and the Deputy Director General and the relationships forged at both conferences are essential steps to attracting responsible operators to the Liberian basin for exploration activities.
