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President Ellen Johnson Sirleaf Lays Out Liberia Petroleum Reform

President Ellen Johnson Sirleaf Lays Out Liberia Petroleum Reform

In an exclusive with All Africa, Liberian president Ellen Johnson Sirleaf went over the country’s new oil exploration process, which entails stricter reforms. The new legislation will prepare the future administration — which will be in place when the country’s first barrels of oil will be shipped abroad.  Johnson Sirleaf predicts this will be six or seven years from now.

“We are doing petroleum sector reform. There will be a new petroleum law that will set the guidelines for being able to give out oil exploration rights. There will be two institutions; one that will manage the state assets and debt, another one that will have the right to grant these concessions. These reforms are now in the process,” Johnson Sirleaf said.

Preparation is key as oil discovery brings about “great expectations” and “tensions,” Johnson Sirleaf added.