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Liberia To Benefit From Petroleum Investment

The West African state of Liberia is set to see a dramatic improvement of its economy as a major global oil company, African Petroleum, embarks on its largest oil drilling project in the country, with the investment of hundreds of millions of dollars within the next few months.

Frank Timis – African Petroleum

This investment will  probably mark the first drilling hole of oil in the country. African Petroleum has made headways in its oil drilling and exploration in the region. This project is significant to the Liberian economy as it has, and will soon provide more employment opportunities for the locals and will also improve Liberia’s standing in the region as a potential major source of energy.

The company’s Executive Director, Frank Timis, who is also Chairman of African Minerals, the mineral exploration and development company with significant iron ore and base metal interests in Sierra Leone, is keen on Liberia’s development, and has expressed his commitment to ensure the once war-ravaged country can rebuild its economic potential by the massive inflow of investments, especially into the energy and mining sector.

Timis who has not hidden his passion to see impoverished African nations dismantle their poverty environment structure in place of more productive and self-sufficient economic environments, has been instrumental in the development agenda taking place in neighbouring Sierra Leone under the dynamic leadership of President Ernest Bai Koroma, where African  Minerals have engaged in the biggest iron ore mining project the region has ever seen.

It is quite interesting to observe how African Petroleum is earmarking projects in countries that are improving on their good governance credentials and whose leadership seems determined to end the suffering of their people.

Liberia’s President Johnson Sirleaf is making strides to change the outlook of the country’s economic circumstance and the presence of African Petroleum is a clear indication of that country’s government seeking major global investment partners in its drive to transform the way it does business.  African Petroleum has a reputation of successful ventures and its investment in Liberia only goes to show its faith in the system of government currently in place under the leadership of President Ellen Johnson Sirleaf.

© 2010, Ahmed M Kamara. All rights reserved | Newstime Africa

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