Liberia ratifies offshore deals with Anadarko, Oranto

Liberia’s parliament ratified offshore exploration deals with Anadarko Petroleum Corp., the second-largest independent U.S. oil producer, and Oranto Petroleum Ltd., based in the West African state of Nigeria.

Liberian President Ellen Johnson-Sirleaf signed the two deals on Thursday, enabling the two oil companies to start operations, Cyrus Badio, Liberia’s presidential press secretary, said from the capital, Monrovia, today.

In March, Liberia signed a US$ 154 million agreement with Anardako, while in June a US$30 million deal was signed with Oranto.

Liberia is rebuilding its economy after a civil war between 1989 and 2003 in which an estimated 250,000 people died and most of the country’s infrastructure was destroyed.

Source: Bloomberg