Liberia: Oily coastal PSC under negotiation

National Oil Co. of Liberia invited Simba Energy Inc., Vancouver, BC, to Monrovia in late July 2011 for final talks on converting Simba’s coastal reconnaissance permit into a production sharing contract.

By OGJ editors
HOUSTON, July 7
– National Oil Co. of Liberia invited Simba Energy Inc., Vancouver, BC, to Monrovia in late July 2011 for final talks on converting Simba’s coastal reconnaissance permit into a production sharing contract.

The reconnaissance permit covers 1,366 sq km in the Roberts and Bassa basins. The former Katana Resources studied the area in the 1980s with Cretaceous at 6,000 ft as an objective (see map, OGJ, Mar. 1, 1982, p. 70). Simba Energy has verified 15 oil seeps on the block. NOCAL’s invitation stated that the delay in reaching final negotiations was due mainly to the lack of a model onshore PSC.

The block lies generally east of Monrovia, onshore from Chevron-operated LB-12 and LB-14 offshore blocks and LB-13, which Canadian Overseas Petroleum Ltd. is attempting to acquire from Peppercoast Petroleum PLC. It starts 140 km east of Anadarko Petroleum Corp.’s Mercury offshore oil discovery.

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