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--On Sale Of Oil Blocks
The National Oil Company of Liberia (NOCAL) says it welcomes the ruling of the Supreme Court of Liberia to dismiss a writ of prohibition brought against the oil company by businessman Harry Greaves, who had taken flight to the high court regarding the sale of four offshore oil blocks.
In his petition, Mr. Greaves had requested the court to restrain NOCAL from proceeding with the bid round because the bid was shrouded in secrecy and therefore deprives Liberian citizens the right to participate in the process and benefit from their resources as provided for by the Liberian constitution.
However, having gone through the merit and demerit of the case, the Supreme Court quashed the petition and mandated NOCAL to proceed with the ongoing sale of the oil blocks.
The Justice-in-Chambers, His Honor Philip A. Z. Banks, who entertained arguments during the hearing, denied the petition on grounds that the petition filed by Mr. Greaves, a former Managing Director of the Liberia Petroleum Corporation (LPRC) did not show sufficient basis to warrant the issuance of the alternative writ of prohibition.
In a press release issued Monday, NOCAL says the position of the high court is a further testimony that it acted within its scope of the law by implementing a decision by the government of Liberia in August to put out for lease, four undrilled offshore oil blocks (LB-6, LB-7, LB-16 and LB-17).
NOCAL explained that the process is being conducted with a high degree of professionalism, transparency and external oversight, with one of the world's leading and reputable international consulting firms, EY (formally Ernst & Young), receiving and operating and assessing the bid, in the presence of NOCAL and its data partners TGS/Nopec.
The oil company says it is committed to ensuring that its Local Content provisions for Liberia and its people will reap the maximum benefits from the current bid round and other activities within the emerging oil sector.
NOCAL's Director of Legal Affairs, Cllr. Zaiye Dehkee and Cllr. Stevens Dunbar of the Dumbar & Dumbar Law Offices in Monrovia represented the oil company.