-In The Oil And Gas Sector
The Director General of the Liberia Petroleum Regulatory Authority (LPRA) Mr. Archie N. Donmo has disclosed that in compliance with fears expressed by His Excellency Dr George Manneh Weah, although Liberia is in a desperate need to discover commercially viable quantities of oil, this country will not lose sight of the attendant consequences that may evolve when the right policies, laws and regulations are not developed and adhered to.
He added that the new LPRA management has taken several prudent measures in this regards so that mistakes made by the past government in the oil and gas sector can be avoided.
This was disclosed by Mr. Donmo when he addressed the Ministry of Information, Cultural Affairs and Tourism (MICAT) press briefing at the Ministry’s conference Hall last Thursday.
According to Mr. Donmo, the LPRA has completely National taken over the functions of the National Oil Company of Liberia (NOCAL), in keeping with the Act creating the LPRA.
He said they are set on building a viable and oil and gas programs, by improving on governance and the transparency of equity participation of all Liberians in keeping with Section 78 of the Petroleum exploration and production regulation Reform Act of 20I4.
He however added that the transfer of NOCAL’s function to the LPRA is yet to be completed as it entails the transfer of all regulatory functions so that NOCAL will be left to focus on on improving on general capabilities and promoting government’s interests, so as to allow the LPRA to focus on the activities of off-shore acreages.
He said President Weah has howevr challenged the the Chief Executive officer (CEO) of NOCAL and the DG of the LPRA to engage international oil companies , partners and other global partners to build an economically successful and sustainable oil and gas sector that will maximize government’s revenue intake and ensure environmental sustainability and the equitable participation of all Liberians
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