The Liberia Offshore License Round 2020 has been formally launched and will run to February 28, 2021, with all initial engagement, promotional events, consultations, and business meetings to be conducted online via the dedicated bid round website or other virtual platforms. 

The Harper Basin offers significant exploration potential in one of the few remaining unexplored deep-water basins in West Africa. The initial interpretation of 2D and 3D seismic data identifies many leads and prospects across the entire basin. Several sub-commercial discoveries from previous wildcat wells in the Liberia Basin have proven that the petroleum systems are working offshore Liberia. Recent discoveries offshore Cote d’Ivoire prove source maturity, the viability of the reservoir quality, and charge potential of commercial size. The Albian reservoir offshore Cote d’Ivoire, for example, is producing and considered a good analogue for the maturation story and identified traps in the Harper Basin.

The round is being launched in parallel with attractive amendments to Liberia's Petroleum Law, following major regulatory changes in October 2019, and the extension of the exploration period, in order to attract international investors.

The Liberia License Round, 2020 will be conducted through three main stages: Pre-qualification, Bid Submission, and Bid Evaluation/Award.

Nine blocks will be on offer in the Harper Basin, one of the last unexplored and undrilled regions offshore West Africa: LB-25, LB-26, LB-27, LB-28, LB-29, LB-30, LB-31, LB-32, LB-33. The new block demarcation is following the petroleum bill update in 2019, with a maximum block size of 3,500 square kilometers, and aligning with the longitude and latitude grid.

TGS holds a range of multi-client data across the tendered acreage to support the licensing round:

• 5,961 kilometers of 2D seismic, gravity and magnetic data
• 6,167 square kilometers of 3D seismic, gravity and magnetic data

Timetable of Events*

*Please note: Due to travel restrictions related to the coronavirus (COVID-19) outbreak, roadshows will now take place via video link over the internet. 

Geological Insight into the Harper Basin

• The geological evolution of offshore Liberia is related to the opening of the Atlantic Ocean.
• The Harper Basin offers significant exploration potential, being the last real frontier basin of West Africa.
• Several sub-commercial discoveries have proven that the petroleum systems are working offshore Liberia.
• The Harper Basin has a petroleum system analogous to surrounding basins associated with the recent discoveries in Ghana, Cote d’Ivoire and also the conjugate Guyana.

Example of typical stacked channel systems

KeyFacts Energy Industry Directory: TGS