{"id":21038,"date":"2024-07-12T11:11:35","date_gmt":"2024-07-12T11:11:35","guid":{"rendered":"https:\/\/sotnews.agency\/?p=21038"},"modified":"2024-07-12T11:11:35","modified_gmt":"2024-07-12T11:11:35","slug":"correction-liberia-showcases-upstream-investment-opportunities-at-invest-in-african-energy-reception-in-london","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=21038","title":{"rendered":"CORRECTION: Liberia Showcases Upstream Investment Opportunities at Invest in African Energy Reception in London"},"content":{"rendered":"
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Kicking off the Invest in African Energy (IAE) reception in London on Thursday, Marilyn Logan, Director General of the Liberia Petroleum Regulatory Authority (LPRA), showcased Liberia\u2019s available oil and gas blocks and upstream investment opportunities. The reception served to connect major technical and financial partners to Africa\u2019s energy sector ahead of the African Energy Week: Invest in African Energy conference in Cape Town this November, organized by the African Energy Chamber (AEC) (www.EnergyChamber.org<\/a>). \u00a0<\/p>\n

Global investors have been clamoring to Africa\u2019s frontier markets in recent months, with countries like Namibia, Mauritania and Mozambique attracting sizable oil and gas CapEx spending, coupled with a renewed exploration focus in West Africa. Liberia represents a proven petroleum system supported by extensive reprocessed 2D and 3D multi-client seismic data in its Liberia and Harper basins.<\/p>\n

\u201cLiberia stands out as a new and exciting destination for oil and gas exploration. Positioned strategically on the West Africa Transform Margin, Liberia shares geological similarities with the Jubilee field in Ghana and [discoveries] in Guyana. We are on the verge of a new decade realizing untapped potential in West Africa, and Liberia is ready to play a pivotal role.\u201d\u00a0<\/p>\n

\u201cMany years ago, many thought Namibia was an oil man\u2019s graveyard\u2026Today, there are even more prospects in countries like Liberia. The belief coming out of [London] drove exploration in places like Namibia \u2013 Liberia could be a replica of that,\u201d added NJ Ayuk, Executive Chairman of the AEC.<\/p>\n

Logan highlighted the role of majors ExxonMobil and Chevron in confirming the presence of a working hydrocarbon system, which has been supported by recent seismic surveys and data reprocessing that show promise of significant reserves. In 2021, the country opened a direct negotiation process for 33 offshore blocks in the Harper and Liberia basins, with plans to launch a new round later this year.\u00a0<\/p>\n

\u201cLiberia\u2019s upcoming 2024 licensing round provides the opportunity to secure prime exploration blocks. Our round is expected to attract serious investors, with Liberia offering incentives for early investment and ensuring the yield of substantial returns,\u201d said Logan.<\/p>\n

In addition to its prospective hydrocarbon resources, Liberia offers a competitive fiscal regime, stable governance and a conducive operating environment. According to Logan, the country has established a fee structure that incentivizes and rewards oil and gas investors with appropriate returns, while still ensuring Liberia retains social and economic benefits from oil and gas extraction activities.\u00a0\u00a0<\/p>\n

\u201cOn the policy side, the Liberian government has implemented a robust oil and gas program to ensure a conducive environment for oil and gas investments, including a streamlined regulatory process and stable and democratic political environment,\u201d she said.\u00a0<\/p>\n

\u201cWe have to keep an enabling environment \u2013 when we enable you to put in money and finance projects, then we both win. The idea of resource nationalism has to go, and also the demonization of the energy industry,\u201d stated Ayuk.<\/p>\n

Distributed by APO Group on behalf of African Energy Chamber.<\/p>

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Kicking off the Invest in African Energy (IAE) reception in London on Thursday, Marilyn Logan, Director General of the Liberia Petroleum Regulatory Authority (LPRA), showcased Liberia\u2019s available oil and gas… <\/p>\n","protected":false},"author":1,"featured_media":21039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_2277560469115098_106292521332774":"","twitter_aToxNzczMzI3Njk4OTg4ODUxMjAxOw==_1773327698988851200":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[],"class_list":["post-21038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/21038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21038"}],"version-history":[{"count":0,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/posts\/21038\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=\/wp\/v2\/media\/21039"}],"wp:attachment":[{"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sotnews.agency\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}