Unpacking the achievements and plans of NOCAL at the just ended cabinet retreat, its Chief Executive Officer and president, Saifuah Mai Gray, reminded participants of the entity’s mandate.
Madam Gray named the engage petroleum exploration, development, and production activities on behalf of the State; holding and managing, on behalf of the State, all participating interest acquired by the State in petroleum agreements, and managing citizen participating interest acquired by the State in petroleum agreements.
In keeping with the mandate, she disclosed that NOCAL together with the LPRA conducted the 2020 Harper Basin License Round, which according to her has now translated into a direct negotiation process.
“As we speak a number of companies are engaging NOCAL for access to data which will eventually lead them to full exploration activities,” CEO Gray asserted.
She told participants that Liberia has 33 offshores blocks and the country’s seismic data include 2D seismic: 34,000 kilometers and 3D seismic: 24,000 square kilometers.
Atty. Gray informed President Weah and cabinet members that NOCAL has received a number of proposals to conduct an appraisal on the Narina-1 Well where Liberia had an oil discovery in 2012.
“As you all know, the discovery was not a commercial one so development and production could not be achieved”, NOCAL boss stressed.
She further disclosed that NOCAL is presently in the concluding stages of discussing a proposal from Dr. Uisdean Nicholson of the Heriot-Watt University, Edinburg, United Kingdom.
“This proposal seeks to drill several scientific wells offshore West Africa (including Liberia) through the International Ocean Discovery Program (IODP), the purpose is to improve our oil and gas discovery”, she added.
Touching on Onshore Performance, the Chief Executive Officer stated that NOCAL has acquired a piece of property in the vicinity of the Buchanan Port. “We have engaged a company to work with us in setting up a shore base”, Madam Gray asserted.
She informed, the shore base will have tank farm for storage of finished petroleum products and crude oil.
The CEO assured the Liberian leader that NOCAL will work collaboratively with the Ministry of Commerce and other relevant agencies so that the government can have a strategic reserve of petroleum at all times in the market.
Zooming in Energy Transition, Atty. Gray disclosed that the world is gearing up for energy transition, the removal from fossil fuel to renewal energy.
She said Africa’s argument on the subject matter is the concept of mix energy as the way forward. She added: “Liberia like other countries is in the process of inserting energy transition plan in her PSCs.”
Highlighting the entity’s social corporate responsibility, the CEO said, NOCAL launched the newly renovated and expended intensive care and trauma units of the JFK memorial hospital. The renovation was done through a partnership with NOCAL’s long-time partner and data-broker, TGS.
CEO Gray in conclusion reassured President Weah and participants that the mission of NOCAL is to transform the entity into a world- class, technological Oil and Gas Company employing the requisite technical expertise, skills, and industry best practices to ensure, in partnership with foreign investment, that Liberia’s hydrocarbon potential is adequately explored, managed, and utilized for the benefit of all Liberians remain enforced.
