Petroleum Africa
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Friday, October 10, 2014
Bid rounds abound across the continent as several countries have either just announced licensing plans, launched a licensing round, or just closed a round. One of those countries is Liberia who currently is in the midst of an ‘invitation only’ bid round. While the country has considerable potential for some lucky E&P firm, it also has one other thing that could hinder the bidding process, the Ebola virus.
The current outbreak of the virus could outweigh the country’s potential and its investor friendly fiscal terms. The round was launched in early-August and the closing, originally set to close on October 31, has been extended to November 14.
Liberia is offering up Blocks LB-6, LB-7, LB-16, and LB-17.
The outbreak of Ebola in West Africa, specifically Guinea, Liberia, and Sierra Leone has infected an estimated 8,011 and killed over 3,500 so far, although actual numbers are probably higher. While in general the virus has not affected exploration as it takes place offshore, recently ExxonMobil reported that due to the outbreak it put its drilling plans on holdand there is no word as of yet how long the US supermajor will remain in a holding pattern.
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