November 3, 2009 / 12:20 PM / in 8 years

Liberia may have over 1 bln barrels in oil resources

CAPE TOWN, Nov 3 (Reuters) - Liberia may have oil resources of over a billion barrels, with the first well expected to be drilled next year, a senior national oil company official said on Tuesday.

Marie Leigh-Parker, NOCAL’s senior vice president for administration and finance, said the first well would be drilled by Anadarko Petroleum (APC.N) next year.

“We are hoping to get more than a billion barrels of oil,” she told Reuters on the sidelines of an Africa oil conference.

Liberia also expects to conclude the bidding process for off-shore oil exploration blocks 1-5 by the end of this year, with some 11 companies, including majors, interested so far. (Reporting by Agnieszka Flak and Wendell Roelf)

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