Liberia: Oil Blocks Sale - Liberia to Complete Controversial Kosmos Deal

Liberia appears to be nearing closer to sealing the lease of two controversial oil blocks as the Ellen Johnson-Sirleaf's government nears the finish line. Negotiations for Oil blocks 6 and 7 previously awarded to the Hong Kong Tongtai Petroleum International Corporation Limited has reportedly been concluded with Kosmos Energy, Ltd., for the lease of the two oil blocks, the National Oil Company of Liberia has announced.

The Production Sharing Contract (PSC) between NOCAL and Kosmos Energy is currently awaiting review and approval by the National Legislature of Liberia. In a statement Friday, NOCAL said Kosmos Energy Ltd., participated in the 2014 bid round conducted by the NOCAL with the assistance of TGS Nopec and Ernst and Young (EY). The negotiated PSC reflects terms that were approved by the Hydrocarbon Technical Committee (HTC) of Liberia.

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