Liberia: Bid round closes

Bid round advisers EY opened licensing round bids from prequalified companies in London on 17 November. National Oil Company of Liberia (Nocal) said EY would now provide an independent evaluation of the fiscal terms contained in each bid. Winning bidders are expected to be notified by 24 November, and Nocal will then negotiate production-sharing contracts (PSCs) with the companies. The Liberia Basin bid round offered four undrilled offshore blocks – LB-6, LB-7, LB-16 and LB-17. The government had pledged not to award new oil concessions until it had passed a new oil law and Nocal Act, but argues that these are not new blocks.