The Liberia Petroleum Regulatory Authority has introduced the launch of its subsequent offshore licensing spherical, anticipated to start in April 2020.

Nine blocks might be on provide within the Harper basin, one of many final unexplored and undrilled areas offshore West Africa. Geophysical firm TGS holds a spread of multi-client knowledge throughout this acreage to help the licensing spherical, together with 5,272 kilometers of 2D and 6,276 sq. kilometers of 3D seismic, gravity and magnetic knowledge.

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Syn-rift structural traps will be recognized over a lot of the realm, which provide multi-level prospectivity, with direct analogues to producing fields in neighboring basins. Modelling predicts the supply rock maturity and expulsion post-dates the principle tectonism within the basin, and seal presence is clear in West African Transform Margin analogues. Also, Cretaceous slope and basin ground fan methods demonstrating excessive amplitude character have been recognized, a few of which cowl over 300 sq. kilometers. Volumetric evaluation of those options suggests subject sizes over a billion barrels of oil in place might be current.

“This is a watershed second for the nation and the Authority is happy to succeed in an settlement with all events together with TGS and NOCAL in selling Liberia’s offshore acreage and attracting the wanted funding in Liberia in direction of help for the Pro-Poor Agenda for Prosperity and Development (PAPD) below the aegis and management of President Dr. George Manneh Weah”, commented Archie N. Donmo, director basic at LPRA.

A proper announcement on the precise licensing date in 2020 might be made by His Excellency, Dr. Weah, based mostly on the advice from the Authority (LPRA), working in live performance with NOCAL and TGS.

Source: www.worldoil.com

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