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Liberia Oil possibly 50% uncertain

olLiberians maybe dreaming that their country is now on the brink of being among the wealthiest nations around the world because of a reported oil discovery.

Howbeit the news of oil discovery maybe a good news for any country and its people but this is not the case with Liberia, contrary to reports that there is Oil in the Country experts say is far from being the truth.

Chevron Liberia limited owners of the Oil Block (LB 11, 12, 14) has said it is at a 50/50 chance of discovering a commercially quantify oil in Liberia offshore waters.

In a  presentation to journalist who were participating a training organized by the International Institute of ICT Journalism (Penplusbytes), “Empowering the Media to Play and Active Role over Mining, Oil and Gas Revenues and Resources in Liberia”, Chevron Liberia limited Karl Cottrell disclosed that the company is taking high risk under its independence variables.

Mr. Cottrell however said Oil has been found in Liberia but the exploration process to find a commercially viable Oil in Liberia is still being carryout by the Country.

“Absolutely false statement that Liberia has got oil but the process of finding oil is still ongoing” Mr Cottrell lamented further.

He said, Chevron is planning two additional exploration wells in 2014 in its quest to find commercially viable Oil content in Liberia.

According to him the exploration will take place on the offshore blocks of LB12 and 14 which are part of the three oil blocks they are operating on in Liberia.

Chevron is part of five of operators granted permit to explore for in Liberia by the National Oil Company of Liberia (NOCAL).

The others include; African Petroleum Corporation Limited (APCL),Anadarko Liberia Company, ExxonMobil, (CLL) and Repsol Liberia B.V

NOCAL as part of its  mandate  has embarked upon a vigorous seismic data promotion and marketing campaign to encourage new exploration and to ensure that companies now holding oil exploration blocks get on with their respective work programs as quickly as possible.

One of Liberia’s foremost Geologist, geophysicist, Senator Cletus Wortorson also disclosed that Oil has not been found in Liberia but the structures and layers the country has are compare to that of the Middle East.

He said Liberia is a frontier country, because the probability of Oil potential maybe 50/50 and companies operating in frontier are exploring at a higher risk.

Senator Wortorson who is also the senate committee chairman on Lands, Mines, Energy and Investment disclosed that if Oil with commercial value is found in Liberia, the country may compete with Qatar, one of the highest producers of oil in the world.

If the Liberian legislator statement is anything to go by, employment rate in the Country may improve base qualification either by skills of un-skill.

The Liberia National Oil Company of Liberia has however started preparing the way by granting local and foreign scholarship to Liberians in the sector though oil with commercial varlue can be found in Liberia, According to the FatuGbedema, Assistance of NOCAL Public Affairs.

According to the International Energy Agency report of 2009, of Countries with proven Oil reserves Liberia is not imbedded.

This means Liberians may have to wait for a while  to know whether the Country to make sure that the Country have a proven commercially viable quantity of Oil reserves.

Source: Moses Garzeawu /Liberia Broadcasting system

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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