Canadian Overseas Petroleum Limited (COPL) has said today that along with its partner ExxonMobil, it remains committed to completing the work program offshore Liberia.
This is related to obligations under the Liberia Block 13 amended and restated Production Sharing Contract (PSC) dated March 31, 2013, plagued by the Ebola Crisis in the country.
COPL says that National Oil Company of Liberia (NOCAL) and ExxonMobil, the operator, continue to meet regularly to discuss operations, Community and Social Responsibility activities and the fulfillment of the LB-13 work program.
ExxonMobil’s Liberian affiliate in 2013 bought 80 percent interest in Liberia Block 13 (LB-13), comprising more than 625,000 acres (2,500 square kilometers) offshore Liberia in water depths ranging from 250 to 10,000 feet (75 to 3,000 meters). Under the production sharing agreement, Exxon has three years to drill an exploration well in the block.
Ebola outbreak in West Africa last year hampered ExxonMobil’s drilling plans for the LB-13 block, as the company at the time prohibited non-essential personnel from travelling to the African regions most hit by the deadly disease.
According to COPL’s statement Tuesday, the government of Liberia continues to provide its assurances that it will act under the terms of the PSC to provide the COPL and ExxonMobil sufficient time to complete their work program, extending the current exploration period if necessary.
“Now that Liberia has been declared Ebola-free by the WHO, the operator is planning next steps for operations”, COPL said.
Offshore Energy Today Staff