The Australian firm, African Petroleum announced Tuesday that it has started tapping into oil deposits situated off the coast of Liberia, the UPI reported Tuesday.
The firm said it had started drilling its Bee Eater-1 well offshore Liberia, about 6 miles from what the it says was a proven high-quality reservoir.
The mean recoverable resources for the Bee Eater area are estimated by the company at more than 840 million barrels of oil.
Africa Petroleum Chief Executive Officer Karl Thompson was quoted to have said that there are plans for a "very active exploration program" here for 2013.
A second well is planned in the offshore region once drillers complete the Bee Eater-1 well.
Several potential well locations under construction depend on results of the latest drilling, the company said.
But the news come at the there are still lingering controversies over transparency within the local oil sector. Issues regarding the review of past contracts are still pending before the National Legislature, amid uncertainties over the use of the oil resources.
Liberia is recovering politically and economically from years of civil war. President Ellen Johnson Sirleaf, in a speech sponsored by Chevron in April in Houston, said Liberia was encouraging investments in the oil and natural gas sector. The Liberian government said more than $16 billion was invested in natural resources such as oil in the past six years.
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If the Liberian Government cannot transparently manage the one in front of her which is the forest sector, how can they manage the oil sector which is below the ocean. Only few Liberian players will enjoy the resources of the oil in Liberia's water. Liberian leaders are only after their personal interests and this is why Liberians might remain in poverty regardless of the resources God has given this small nation of 3.5 million people. Lack of good leadership is… [Read Full Text]
Liberian people, you're the most pragmatic contributor amongst many. Let's also keep in mind the environmental impact of drilling for oil. Oil drilling, creates polycyclic aromatic hydrocarbons, which in high concentrations are lethal to marine life and in low concentrations cause birth defects or impaired growth. Another byproduct of oil drilling is muds, slimes and sludge that contain TENORM (technologically enhanced naturally occurring radioactive material). Workers at disposal sites risk inhaling radon gas, which can lead to lung cancer. Are… [Read Full Text]
I hope Madan Ellen will get the fact that Liberia belong to all Liberian and not few so called corrupt officials or her self. We demand that the oil resourse be openly and transparently to benifit all. Liberia is only country in that region with no basic electricity, roads or good water supply. As the first African female President and a mother, come on we expected much better from her gov. So any attempt to deprive the Liberian people wil… [Read Full Text]