XOP & Exxon update Liberian progress, good for smb? Canadian Overseas to keep working on LB-13 in Liberia
2015-06-02 06:06 ET - News Release
Mr. Arthur Millholland reports
CANADIAN OVERSEAS PETROLEUM LTD ANNOUNCES LIBERIA UPDATE
Canadian Overseas Petroleum Ltd., along with its partner, ExxonMobil, remains committed to completing the work program and obligations under the LB-13 amended and restated production sharing contract dated March 31, 2013.
NOCAL and ExxonMobil, the operator, continue to meet regularly to discuss operations, community and social responsibility activities, and the fulfilment of the LB-13 work program, which has been affected by the Ebola crisis. The government of Liberia continues to provide its assurances that it will act under the terms of the PSC to provide the company and ExxonMobil sufficient time to complete their work program, extending the current exploration period if necessary.
ExxonMobil continued to support relief organizations in Liberia throughout the crisis, demonstrating their commitment to the region. Now that Liberia has been declared Ebola-free by the World Health Organization, the operator is planning next steps for operations.