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Tuesday, August 6, 2019
Liberia’s state-run oil firm, National Oil Company of Liberia (NOCAL), signed a four-year oil well data management agreement with Core Laboratories Sales BV. The agreement is the first major initiative by the government in three years and it will see the management value addition and re-organization of oil-well data collected by oil companies that operated in Liberia since the 1970s.
The signing ceremony took place on August 1 at NOCAL’s head office and was witnessed by agency principals.
Speaking at the signing ceremony NOCAL CEO, Saifuah-Mai Gray said the agreement ushers in a new era in the sector that has been dormant for the past three years.
“A key mandate of the NOCAL ACT involves the management of data which represents a major income stream for NOCAL,” Gray said.
“When I took over the company, Well Data Sales was poor to non-existent; coupled with the absence of operators in the basin. The need to be innovative with what we have available is very paramount.”
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