Monrovia — Classified documents obtained by the Independent Authoritative Heritage reveal that there is a plan at foot by the Liberty Petroleum Corporation to resell Oil Block 16 Contract to a giant company at the expense of the Liberian people, most of whom, are living in abject poverty.
It can be recalled that recently, the 53rd Legislature ratified the controversial Production Sharing Contract (PSC) of Liberia offshore Oil Block 16 between the Government of Liberia (GOL) and Liberty Petroleum Corporation Liberia Limited, Pillar Oil Limited and New Millennium Oil and Gas.
The Legislature ratified the Block 16 Oil Contract few days after the Executive Branch of the GOL headed by President Ellen Johnson-Sirleaf forwarded the document to it.
Block 16 was previously awarded to Anadarko, but the company reportedly relinquished it (Block 16) to the GOL, thereby making Block 16 the property of the government.
Following the ratification of the Block 16 Oil Contact by the Legislature, the government bragged that the leasing of Block 16 was necessary due to the current outbreak of Ebola in Liberia, which according to the government, underscored the need for more works to be done.
Disappointingly, the government has not provided detailed information to the public regarding monetary benefit of the contract to the country.
The ratification of Block 16 Oil Contract was widely protested by the public on grounds that the Liberian people, many whom are living in abject poverty, will not benefit from the deal, as they had never benefited from previous oil contracts except the elites.
This paper, quoting well-placed sources within officialdom, reported on Monday, December 29 that members of the 53rd Legislature were allegedly bribed over US$ 3M for the ratification of the contentious contract. The leadership of the Legislature and authorities of the National Oil Company of Liberia(NOCAL) declined comments on the matter when they were separately contacted by the Heritage.
According to the classified documents, discussion has already begun with Lane Franks, President of Liberty Petroleum Corporation making known the company’s plan to resell the contract.
If all goes well, this will not be the first time for a company to resell oil block after it was awarded oil contract by the GOL.
It may be recalled that sometimes ago, Broadway and Oranto were given an oil contract by the GOL. But shockingly, the two companies without doing any work, turned around and resold the oil contact to Chevron and Exxon and made hundreds of Millions at the expense of the Liberian people.
This latest development comes in the wake of reports that Liberty Petroleum Corporation had said when it gets the contract from Liberia it will resell it.
The company says on its website that it is what it does. “It hunts for giants”.
The company also says that it is worth only US$ 336,000. It is reported on yahoo finance that it has a share price of $ 105 and 3,200 shares.
This suggests that its market value is only 336,000. Then the big question on the lips of some critical observers is: How can such small company get millions in oil blocks?
Liberians are worried that this oil deal is an inside job between the Executive and the Legislature meanings of the Executives and the Legislators are owners in these deals.
The documents in possession of this paper read in part: Numerous oil and gas discoveries along the western … … ..
Continental margins of Africa are clear evidence that the region is oil prone.
Recent discoveries in the Sierra Leone Anadarko offshore wells (Venus, Jupiter and Mercury drilled to a depth of about 4,800-6,400 meters and at water depths between 1,600 to 2,200 meters), further demonstrates the presence of active petroleum systems.
