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Thursday, November 12, 2015
Liberia could close a deal for the lease of two of its oil blocks soon. According to a NOCAL statement negotiations for Blocks 6 and 7, previously awarded to another firm, could go to Kosmos Energy.
The blocks were previously awarded to Hong Kong Tongtai Petroleum International Corp.
The PSC between NOCAL and Kosmos Energy is currently awaiting review and approval by Liberia’s legislature. In a statement NOCAL said Kosmos Energy Ltd., participated in the 2014 bid round conducted by the NOCAL. The negotiated PSC reflects terms that were approved by the Hydrocarbon Technical Committee (HTC) of Liberia.
Kosmos’ selection, according to NOCAL, was based on evidence of its strong financial, technical, health and safety, environmental and security credentials. “The company is publicly traded on the NYSE. It has a market capitalization of approximately $3 billion and a strong balance sheet with $1.9 billion in liquidity,” NOCAL said in a statement.
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