About LPRA
The LPRA was established by the New Petroleum (Exploration & Production) Law of 2014 as an independent regulator of Liberia’s hydrocarbon sector. The LPRA is headed by a Director General and supervised by a non-executive but supervisory Board that provides oversight and policy direction.
Mission:
Identify and partner with financially and technically competent oil and gas companies to sustainably explore, develop, and manage Liberia's hydrocarbon resources.
Identify and partner with financially and technically competent oil and gas companies to sustainably explore, develop, and manage Liberia's hydrocarbon resources.
Vision:
Be a gold standard for sustainable hydrocarbon development in Africa, driving economic growth and social progress.
Be a gold standard for sustainable hydrocarbon development in Africa, driving economic growth and social progress.
Core Values
At LPRA, our values are the attributes, behaviors, and attitudes every employee embodies. We live by these values personally and as an institution. They are the fabric of our life and work. They cannot be legislated but we have pledged to do our best to uphold them, to honor them in our decisions, to express them in our relationships, and to act consistently with them in all our work.
Mandate
The LPRA is established pursuant to section 7.1 of Liberia’s 2016 Petroleum E&P Law and mandated by section 8.1 of the same law to among other things:
Conduct technical evaluations of areas to be opened for petroleum operations pursuant to Section 13 of this Act.
Manage the pre-qualification and bidding round processes for the tendering and granting of petroleum agreements and make recommendations to the Board in accordance with Sections 15, 16 and 17 of this Act.
Enter into petroleum agreements and such other instruments as may be necessary or appropriate to evidence other petroleum rights granted under this Act.
Administer petroleum rights (other than reconnaissance licenses to be administered by NOCAL under subsection 7(e) of the NOCAL Act) and ensure compliance by the holders of such rights with this Act, regulations made thereunder and with the terms of the relevant petroleum agreement or license.
Review and approve proposed reconnaissance, exploration and appraisal work programs and budgets, development and production plans and budgets, and abandonment plans and budgets submitted by holders of petroleum rights, including any revisions thereto.
Represent the State in operations committees established under petroleum agreements to review current and future petroleum operations.
Monitor petroleum operations and conduct such inspections, investigations and audits as are required thereof.
Assist the LRA in ensuring that all revenues accruing to the State under this Act and any petroleum right granted hereunder are deposited by the payer directly into the Consolidated Fund for effective monitoring and management in a transparent and accountable manner except as may be otherwise expressly. permitted under this Act.
Supervise the storage of petroleum data, maps, records, registers and other documents relating to petroleum operations, including petroleum data acquired by NOCAL in the exercise of its commercial power to enter into and administer contracts for the acquisition of seismic and other geophysical and geochemical data.
Investigate and make recommendations by the first anniversary of the effective date of this Act as to the potential scope and structure of a petroleum revenue management law for Liberia.
Previous
Next
