President George Manneh Weah has mandated relevant institutions to work out necessary modalities for a successful reopening of the Harper Basin for oil & gas exploration. According to an Executive Mansion release issued Tuesday, 6 November, the government announces that it will be hosting a Bid Round in 2019 for the Harper Basin exploration, and wishes to encourage interested companies to take advantage of the groundbreaking opportunities to invest in the sector.
Also, President Weah has directed and advised the relevant institutions to develop appropriate frameworks to enhance and facilitate the successful hosting of the 2019 Bid Rounds, the release says.The Executive Mansion recalls that in his inaugural address in January, President Weah declared that Liberia was open for business, appealing to international partners to come and invest in Liberia.
The President once again reiterates that Liberia is open and prepared for business, the Mansion adds in the release.It says the declaration was informed, as it is today, by the poor state of the economy that President Weah’s government inherited.
“It was also intended to reawaken the confidence of the international community and the larger business world, to have faith in the government’s ability to confront the problems in order to put the economy back on the trajectory of growth,” the release indicates.
Consequently, it says the president has been working tirelessly with partners to identify and develop frameworks to revive the economy and eventually bring relief to the Liberian people.In the view of the President, one area of significant interest and relevance in reviving the economy is Liberia’s oil and gas sector, which remains largely untapped and has the potential to rekindle and brighten the path to prosperity.
The Executive Mansion indicates that it is in keeping with this conviction that the government resuscitated, through a thorough review process, the National Oil Company of Liberia (NOCAL), by appointing a new management team, and restructuring the Liberia Petroleum Regulatory Authority (LPRA).–Press release