The Petroleum Law
The Petroleum Law mandates NOCAL to delineate, establish, and issue licenses for particular areas, fields, and blocks, as the case maybe, on such terms and conditions as shall be deemed appropriate, subject to the approval of the Board of Directors and final ratification by the President of Liberia. It is against this backdrop that Chapter II, sub section 2.1, of the Act Adopting the New Petroleum Law of the Republic of Liberia, stipulates that “all Petroleum contracts shall be negotiated by NOCAL on behalf of the State.”
The Petroleum Law further gives NOCAL the mandate to undertake and/or facilitate the exploration and establishment of the country’s liquid and gaseous hydrocarbons deposits, both on land and in our sovereign waters. All agreements and arrangements entered into by NOCAL require the final approval of the President of Liberia.
NOCAL has embarked upon a vigorous seismic data promotion and marketing campaign to encourage new exploration and to ensure that companies now holding oil exploration blocks get on with their respective work programs as quickly as possible. This program includes data studies followed by detailed 3D seismic, which lead to the identification of drillable structures and the exploratory drilling program.
NOCAL’s mandate also means the company will actively address Liberia’s capacity and sustainability issues. An integrated approach with a focused technical program and structure is at the core of NOCAL’s institutional reform agenda and the realization of its founding vision and mission.
A series of proposed international initiatives, including the United States Energy Governance and Capacity Initiative and the Norway Government program are guiding NOCAL’s strategic vision and mission and providing useful opportunities for planning, programming and implementing critical interventions for increased capacity building and improved organizational effectiveness.