Latest: Key Changes to Bid Criteria make Liberia Licence Round even more Attractive


PRESS STATEMENT FROM LIBERIA REGULATORY REGULATORY AUTHORITY (LPRA)...

MONROVIA, July 14, 2020: The Government of Liberia, through the Liberia Petroleum Regulatory Authority (LPRA), has made significant adjustments to its bid evaluation criteria for the 2020 Offshore Licensing Round for the Harper Basin. These modifications, according to the Director General, Hon. Archie Donmo, “are in response to the devastating impact of Covid-19 on the global price of oil, share price of E&P companies, and the sensitivity of the Government of Liberia towards mitigating this impact and attracting international investment in the Harper Basin, one of the untapped regions within the West Africa Transform Margin.”

These changes include the adjustment of requirements for signature bonus from a minimum of 8 million United States Dollars payable in one tranche to a more flexible option. Under this new adjustment, there will be no minimum requirement thereby allowing companies to submit bids describing their proposal for signature bonus. This allows the industry to determine the signature value for each block based on submissions. In addition to designating the signature bonus as a biddable item, LPRA has announced that interested bidders will have an opportunity to negotiate a payment schedule with the Government of Liberia. Also, LPRA has modified the mandatory 2D seismic data purchase requirement for the entire Harper Basin to require interested bidders to license 2D seismic data for the particular block(s) of interest....


VIEW FULL LPRA PRESS STATEMENT  


 

Liberia Video Link GIF 2Liberia Live Event Register _2The Harper Basin License Round is underway and now with enhanced bidding criteria!

The Liberia Petroleum Regulatory Authority has announced the launch of its next offshore licensing round, which commenced on April 10, 2020. The round is being launched in parallel with attractive amendments to Liberia's Petroleum Law, following major regulatory changes in October 2019, and the extension of the exploration period, in order to attract international investors. Liberia Video Link GIF 2

 

The Liberia License Round 2020, beginning April 10, 2020 until 28 February, 2021, will be conducted through three main stages (timetable of events bottom of site):

  1. Pre-qualification
  2. Bid Submission
  3. Bid Evaluation/Award.

Companies interested in participating in the license round are required to complete and transmit a letter of expression of interest, fill out the pre-qualification form and an ultimate beneficial ownership form as indicated in Annex 6 of the Tender Protocol for pre-qualification. See the link below to 'Get the Full Story' and download the Tender Protocol, Model PSC and Pre-qualification Form. Request relevant material and more via the form on the right-hand side.

Landing Page _Buttons_-1

Nine blocks will be on offer in the Harper Basin, one of the last unexplored and undrilled regions offshore West Africa: LB-25, LB-26, LB-27, LB-28, LB-29, LB-30, LB-31, LB-32, LB-33. The new block demarcation is following the petroleum bill update in 2019, with a maximum block size of 3,500 square kilometers, and aligning with the ECOWAS grid.

TGS holds a range of multi-client data across the tendered acreage to support the licensing round,  view the TGS data library.

  • 5,961 kilometers of 2D seismic, gravity and magnetic data
  • 6,167 square kilometers of 3D seismic, gravity and magnetic data
Liberia 2020 License Round Blocks Wells with legend larger copy

 

Geological Insight

For more detailed information, click on the arrow below - explore the blocks on offer and gain greater insight into the available data.

  • Landing Page _Buttons_-1The geological evolution of offshore Liberia is related to the opening of the Atlantic Ocean.
  • The Harper Basin offers significant exploration potential, being the last real frontier basin of West Africa.
  • Several sub-commercial discoveries have proven that the petroleum systems are working offshore Liberia.
  • The Harper Basin has a petroleum system analogous to surrounding basins associated with the recent discoveries in Ghana, Cote d’Ivoire and also the conjugate Guyana.

See an example of typical stacked channel systems below and explore the Story Map for more insight and information.

HarperPoster_LongSeismic_altered

 


 

Timetable of Events*

Event Location Date
License Round Opening Via web link 10 April, 2020
License Round Launch Webinar* via web link

15 April, 2020

Request for Pre-qualification Via email

April 10, 2020-October 31, 2020

Bid Submission Monrovia

November 1, 2020-February 28, 2021

License Round Closes Monrovia

February 28, 2021


*Please note: Due to travel restrictions related to the coronavirus (COVID-19) outbreak, roadshows will now take place via video link over the internet. Further information will appear here shortly.


 

Additonal Information

 

Frequently Asked Questions

Q: With the COVID-19 pandemic restricting travel globally, are you still going to host the Bid Round? 

A: Yes, we are maintaining the timeline we announced in January this year, though the launch events and London and Houston roadshows are being moved to virtual online only events.

Q: Will there be blocks available in the Liberia Basin?
A: The bid round is specifically for the Harper Basin, however there is a provision in the Law to allow direct negotiation for blocks in the Liberian Basin.

Find out more

Please fill in the information request form on the top right-hand section of this page for any specific information you require and a representative will contact you.