NOCAL Reform Information
"As you may know, in 2000, by an Act of the Legislature, NOCAL, an independent state-owned enterprise, was created to coordinate the development of Liberia's oil sector. In furtherance of this mandate, NOCAL chairs Liberia's Hydrocarbon Technical Committee (HTC), and as the responsible amr of the government, is coordination a vigorous oil governance reform program. The reform exercise is proceeding along three main steps:
- To draft and adopt a new policy creating principles and guidance for exploration and production activities;
- To draft and enact a new petroleum law, guided by the new policy, to cover Exploration and Production; and
- To create a new model Production Sharing Contract (PSC) that reflects the new law..."