News Column

Exxon to Explore Liberian Oil Fields

May 31 2013 9:13AM

Exxon Mobil Corp. (Irving, Texas) announced that its Liberian affiliate has acquired from Canadian Overseas Petroleum Ltd. (COPL), based in Calgary, Canada, 80 percent interest in Liberia Block 13 (LB-13). The block comprises more than 2,500 square kilometers offshore Liberia in water depths ranging from 75 to 3,000 meters.

Exxon Mobil Exploration and Production Liberia Ltd. and COPL received final approval of the transaction from the Liberia national legislature and Liberia President Ellen Johnson Sirleaf. The transaction closed in April.

Exxon Mobil is the operator of LB13. COPL now has 20 percent interest inLB-13.

Exxon Mobil plans to open its venture office in Monrovia, Liberia, to begin fulfilling the requirements of the production-sharing contract, which calls for an exploration well to be drilled within three years.

Liberia Block 13 is 30 kilometers offshore Liberia's central coast.

Source: Copyright Sea Technology 2013

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