For Immediate Release: NIC and LPRA Collaboration to Promote Investment in Liberia's Petroleum Sector
27 Aug 2024
NIC AND LPRA COLLABORATION TO PROMOTE INVESTMENT IN LIBERIA'S PETROLEUM SECTOR
The National Investment Commission (NIC) is pleased to announce its collaboration with the Liberia Petroleum Regulatory Authority (LPRA) in promoting investment opportunities in Liberia's petroleum sector. This partnership is a step toward attracting global investors and fostering economic growth within the country.
The LPRA has recently launched the 2024 Licensing Round for hydrocarbon exploration and development within Liberia's offshore basins. This round offers a unique opportunity for international and domestic companies to engage in the exploration of 29 offshore blocks within the Liberia and Harper Basins, covering both deep offshore and shallow water blocks. The Licensing Round is designed to attract companies with the technical expertise and financial capacity to responsibly explore and develop these significant resources.
In response to this initiative, the NIC has expressed its full support and willingness to collaborate with the LPRA to promote both downstream value addition and upstream exploration in the petroleum industry. The NIC has been receiving investment inquiries, and we believe that this partnership will further enhance Liberia's attractiveness to investors in the petroleum sector.
The LPRA, issued Press Release on the Launch of the Licensing Rounds and the 2024 Invest in Liberia (Licensing Round) Brochure, are resources made available on the NIC website to provide potential investors with the necessary information to engage in Liberia's hydrocarbon exploration opportunities.
Together with the LPRA, we are committed to ensuring that the Licensing Round process is transparent, competitive, and aligned with international best practices.
For more information on the 2024 Licensing Round and the ongoing collaboration between NIC and LPRA, please visit our website or contact the LPRA.
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