Officials say the signing ceremony represents a giant step in Liberia's oil search, adding, "the contracts commits the three companies to a very rigorous work plan, which will accelerate further exploration in Liberia's offshore area and ensure the drilling of wells.
The Liberian Government, through the National Oil Company (NOCAL), have entered into a "Production Sharing Contract" with three foreign oil companies to undertake oil exploration in Liberian territorial waters.
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