Liberia: Plan to Resell Oil Block 16 Contract Exposed

Dec 31, 2014 | Heritage
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It can be recalled that recently, the  53rd  Legislature  ratified the controversial Production Sharing Contract (PSC) of Liberia offshore Oil Block 16 between the Government of Liberia (GOL) and Liberty Petroleum Corporation Liberia Limited, Pillar Oil Limited and New Millennium Oil and Gas.

The Legislature ratified the Block 16 Oil Contract few days after  the Executive Branch of the  GOL headed by President Ellen Johnson-Sirleaf forwarded  the document to  it.  

Block 16 was previously awarded to Anadarko, but the company reportedly relinquished it (Block 16) to the GOL, thereby making Block 16 the property of the government.

Following the ratification of the Block 16 Oil Contact by the Legislature, the government bragged that the leasing of Block 16 was necessary due to the current outbreak of Ebola in Liberia, which according to the government, underscored the need for more works to be done.