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New oil finds off Liberia and Sierra Leone | New oil finds off Liberia and Sierra Leone |
(2 days later) | |
Oil has been found off the coasts of Liberia and Sierra Leone, energy companies have announced. | Oil has been found off the coasts of Liberia and Sierra Leone, energy companies have announced. |
African Petroleum and Anadarko say further tests are needed to see how commercially viable the finds are. | African Petroleum and Anadarko say further tests are needed to see how commercially viable the finds are. |
Nevertheless, hopes have been raised that an oil bonanza could spur growth in the West African states - still recovering from civil wars. | Nevertheless, hopes have been raised that an oil bonanza could spur growth in the West African states - still recovering from civil wars. |
Drillers rushed to the region five years ago when one of Africa's biggest oil fields was discovered off Ghana. | Drillers rushed to the region five years ago when one of Africa's biggest oil fields was discovered off Ghana. |
Liberia and Sierra Leone have been eager to develop their mining and energy industries after years of conflict hindered investment and left infrastructure in ruins. | Liberia and Sierra Leone have been eager to develop their mining and energy industries after years of conflict hindered investment and left infrastructure in ruins. |
The government of Sierra Leone issued a statement congratulating Anadarko. | The government of Sierra Leone issued a statement congratulating Anadarko. |
This is the second oil field Andarko has found off Sierra Leone. | This is the second oil field Andarko has found off Sierra Leone. |
Liberia has also welcomed the latest discovery - but urged patience. | Liberia has also welcomed the latest discovery - but urged patience. |
"It will take time to fully appraise this discovery," Liberia National Oil company head Randolph McClain said on local radio, according to Reuters news agency. | "It will take time to fully appraise this discovery," Liberia National Oil company head Randolph McClain said on local radio, according to Reuters news agency. |
"And years - between five to seven years - before a drop of oil is produced from the well." | "And years - between five to seven years - before a drop of oil is produced from the well." |
Further east, Nigeria is Africa's biggest oil producer. |
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