Chevron seals exploration deal in Liberia

CHEVRON HAS SIGNED an agreement to explore three deepwater concessions in Liberia.

The three-year exploratory programme is expected to start in in the fourth quarter this year, according to a government statement.

Exploration in Liberia to date has been carried out by the US-based independent producer Anadarko and UK-based Oranto, which operates in Nigeria and has interests in several other West African countries. Seismic data produced by Oranto from two offshore blocks showed prospects for sufficient undersea petroleum reserves to interest a big player like Chevron.

“We are delighted to welcome Chevron as a partner for Liberia to explore our oil and gas assets,” Liberian leader Ellen Johnson-Sirleaf said. ’"Along with its investment, Chevron will bring the latest technologies, best practices in transparency and efficiencies, and an excellent record of community and social responsibility.’’

Liberia, which is recovering from a decade and a half of civil war that ended in 2003, is looking to exploit potential offshore oil and has granted exploration rights to Repsol Exploration SA, Woodside West Africa Pty Ltd, Regal Liberia Ltd, and Anadarko Petroleum Corp among other companies.

 

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