Eze’s interests this time around are offshore oil blocks 15, 16, 22 and 24. Once prequalified, Exxon is expected to be invited to negotiate Petroleum Sharing Arrangement in the Liberia basin, the Liberia Petroleum Regulatory Authority announced in April. In fact, FrontPageAfrica reported at the time that Mr. Eze’s first cheque for the oil block actually bounced. Chevron holds a 70% stake in the nascent exploration venture, Oranto 20% and NOCAL 10%. In September 2010, according to GW, the Liberian Legislature ratified three “addenda” to Oranto’s offshore blocks 11, 12 and 14, approving the 70% purchase of LB 11, LB12 and LB14 offshore blocks.

Source: Front Page Africa October 22, 2024 19:19 UTC