Liberian National Petroleum Company (Nocal) recently released an impressive progress report to President Joseph Numa Boachey at the executive mansion in Monrovia about its partnership with global geological and geophysical leader TGS Nopec.
Reading the report to the president, ministers and industrial leaders, Nokal’s acting eco Fabian Rye said that the 23-year co-venture positioned Liberia as West Africa’s most promising energy frontier, resulting in the acquisition of multi-client 2D and 3D seismic investigation programs. The investment covers more than 15,000 square kilometres of the country’s offshore basin, CEO Lai explained in detail.
He also clarified the economic impact of the partnership, saying that Liberia currently enjoys 80% of its revenue from 3D data sales, significantly strengthening government funding and strengthening public services and development.
The report sounds very promising and motivated, but I think Liberians should be celebrating carefully given their past experiences with Nokal under this highly dominant United Party-led government.
Norcal eventually collapsed with his son Robert Sirleef under the surveillance of the former president and took the helm of the group. Madame Sirleef took responsibility and that was the end of the story. It was supposed to have been a great game changer in postwar socioeconomic development. The rest is history.
But here we have again the nocal revised under the new administration, especially when President and CEO Madame Rustonlyn Skoko Dennis has halted allegations of corruption, financial dismantling and abuse of public offices, and began to inspire hopes for Iberians amid the continued widespread corruption of the government.
This follows a recommendation by the board of directors seeking an investigation into the purchase of SUVs, and a massive valuation of US$75,000 and other financial misconduct were flowing as feces flowed down the streets like strong river flows.
CEO Lai spoke about the corporate social responsibility initiative launched by Nocal as a result of his partnership with TGS Nopec. It reveals the annual contribution of US$200,000 to social welfare programs. I think this is a decline in the ocean. But our minds run to a Sharon-sponsored recreation park at the entrance to Gabriel Tucker Bridge in the town, which is reportedly costing more than US$1 million under a collapsed nocal. The location ratings do not even indicate the facility’s worth US$500,000.
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This is why he is early warning to Rey-led NoCal to exercise a major departure from his previous NoCal under Madame Sirleef MD Robert. And we don’t want a recurrence.
The current partnership with TGS Nopec wants to embrace CEO Lai with the words that not only sells data and profits, but also empowers citizens, builds a future that escaped them under former CEO Robert Sulf, and allows Liberians to have the opportunity to lead the energy sector. This is a strong and slow belief in their socioeconomic well-being.
It’s not that I’m not unsure about CEO Lai and his team of officials in managing the energy sector, but past experiences should be a very good lesson to drive us into a future filled with uncertainty and surprises.
