Liberia To Open Bid On Oil Sector
Monrovia: Amid huge economic woes in the country, Liberia’s President George Manneh Weah has announced the hosting of an oil exploration bid which will increase the country’s revenue in oil production and ways for investment.
The Bid Round is expected to kick start in 2019 for several explorations including the Harper Basin exploration in which the government called on interested companies to take advantage of the groundbreaking opportunities to invest in the sector.
According to Pres. Weah, 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.
In his 2018 January, Inaugural Address to the nation President Weah declared that Liberia was open for business which he appealed to international partners to come and invest in the country.
However the Pres. Weah has reiterated that Liberia is open and prepared for business with the announcement of the reopening of the Harper Basin for oil & gas exploration.
“It is 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”, a statement from the President’s Office stated.
Pres. Weah has encouraged the relevant institutions to develop appropriate frameworks to enhance and facilitate the successful hosting of the 2019 Bid Rounds.