Liberia: Buchanan Set for Oil & Gas Shorebase

What the report says

Liberia’s National Oil Company (NOCAL) and Nigeria-based Lagos Deep Offshore Logistics Base (LADOL) have signed a Joint Development Agreement to move ahead with plans for an oil and gas logistics and shorebase facility in Buchanan, Grand Bassa County. According to the New Dawn report distributed by AllAfrica, the agreement was signed in London on October 3 and is meant to support future offshore drilling activity in Liberia.

Under the deal, LADOL will act as NOCAL’s technical lead partner for the project’s feasibility study, engineering design, construction and eventual operation. The feasibility study is expected to start within 45 days and run for about six months. It will examine land needs, waterfront and marine access, utilities, business viability, site conditions and the scope of an environmental and social impact assessment.

NOCAL said the project is intended to keep more of the value chain inside Liberia after previous drilling campaigns relied on service providers from neighboring countries for work such as logistics, waste disposal and technical support. NOCAL President and CEO Fabian M. Lai said the goal is to create more jobs, contracts and training for Liberian firms and citizens. LADOL Executive Chairman Sir Oladipo Ladi Jadesimi said the company sees potential in Liberia’s oil and gas sector and local-content development.

The agreement also creates a joint steering committee and sets out a path for later project contracts. NOCAL is Liberia’s state oil company, while LADOL is a Nigerian logistics and engineering firm with oil and gas operations in Lagos.