To support offshore and onshore petroleum operations, NOCAL has secured two strategically located properties totaling over 206 acres (45.7 acres and 160.8 acres) near the Port of Buchanan for the development of a dedicated Shore Base facility.
The proposed Shore Base will serve as a critical operational platform for:
This development will enhance operational readiness, reduce logistical costs, and position Buchanan as a key petroleum services and logistics center for Liberia and the wider sub- region.
NOCAL is a state-owned institution that manages Liberia’s petroleum resources, including exploration and development to ensure responsible national growth.
: No. NOCAL does not sell oil blocks. The Government, through the Liberia Petroleum Regulatory Authority, actively leases out acreages to reputable International Oil Companies (IOCs). This process involves the signing of a Production Sharing Contract (PSC) between the Government and the IOC, ensuring transparent and strategic collaboration to develop Liberia’s oil resources.
An oil block or petroleum acreage be acquired through three means:
a. Licensing Round (Competitive Bidding)
b. Direct Negotiations
c. Executive Allocation
No. Liberia is not currently producing oil. Exploration is ongoing, and production will begin only if commercially viable reserves are found.
The National Oil Company of Liberia (NOCAL) manages Liberia’s petroleum resources.
Its work includes:
NOCAL adheres to petroleum laws, open contracting processes, and collaborates with the Extractive Industries Transparency Initiative (EITI) to ensure accountability.