Liberia: CHEVRON Corp sure of Liberia investment
By Peterking Quaye, Monrovia, Liberia with support from Daily Observer – News monitored in Liberia revealed that Chevron Corporation is hopeful of reaping huge benefit from exploration in Liberia . Last September, Chevron was granted approval by the government to acquire interest and operatorship to explore oil and gas in three deepwater blocks off the coast of Liberia.
Chevron CEO and Chairman John Watson in Washington
The agreement represented many firsts, including the first Liberian blocks to be signed by an oil and gas super-major and Chevron’s first entry into Liberia’s exploration and production industry. The blocks (LB-11, LB-12 and LB-14), are located in a geologic trend off the coast of West Africa where several discoveries have been made recently. The blocks are located between 12 miles and 110 miles south of Monrovia and cover 3,700 square miles.
Chevron will begin drilling its first deepwater exploration well in the fourth quarter of this year. It will be one of the country’s first offshore exploration wells in 25 years.
“If our exploration program is successful, we look forward to working with you to bring Liberia’s resources to the world energy market,” promised the Chevron CEO. For her part, President Ellen Johnson Sirleaf welcomed the company’s CEO and lauded him for carrying on the company’s social corporate responsibility in the area of health, education and enterprise development.
According to Watson, Chevron was privileged to have a chance to contribute to the future of Liberia by helping to develop and improve the lives of its people. It will be recorded that in September 30, 2009 ,The board of directors of Chevron Corporation (NYSE: CVX) elected John S. Watson, 52, chairman of the board and chief executive officer of the company, effective Dec. 31, 2009. Watson, who is currently vice chairman, succeeds David J. O’Reilly, who will retire from the company and its board after a distinguished 41-year career, including 10 years as chairman and CEO.
“Liberia is building a model for development in continental Africa by creating an environment where partnership, investment and economic growth can flourish. We are privileged to contribute to the future of Liberia,” said Mr. Watson.
Disclosing this to President Ellen Johnson Sirleaf on Monday in Monrovia was the company’s chairman and chief executive officer, Mr. John Watson. Chevron CEO Watson was in the country on a one-day visit. His mission to Liberia was aimed at detailing the progress of Chevron’s oil and gas exploration projects and its social investment initiatives to President Johnson Sirleaf and her cabinet.
This made knew during a meeting with the Liberian Chief Executive at her Foreign Ministry Office, Mr. Watson reiterated his company’s commitment to creating more jobs for Liberians. He further reassured the Liberian government of his company’s determination to uphold high standard of integrity aimed at building a stronger friendship between Chevron and the Liberian people.
Additionally, Chevron CEO Watson informed the President that his company had already begun laying the foundation for a successful business firmly grounded in the principles of transparency, integrity and strong environmental standards.
Chevron has been doing business in Africa for more than a century. The company now operates in Angola, Ghana, Chad, Democratic Republic of the Congo, South Africa, Nigeria and Republic of the Congo.
The company’s CEO lauded President Johnson Sirleaf for overseeing a remarkable post-war transformation process of a country devastated by decades of civil strife. has expressed overwhelming optimism about reaping positive results when it begins drilling its first deepwater exploration well in Liberian waters before this year comes to a close.
“She is re-building the economic and social infrastructures, promoting democracy and human rights, and enhancing transparency and good governance. These are the building-blocks of successful, prosperous societies and we are proud to be part of this transformation,” asserted the Chevron boss.
It was made known that in less than ten months; the U.S. oil giant has opened its offices, secured a drillship and initiated dozens of community-based projects in the areas health, education and enterprise development.
Assuring the Liberian leader of the safety operation of the company, CEO Watson said disclosed securing of a drillship, Discoverer Spirit. The company has already started many several projects in our communities. We look forward to a long and successful partnership with Chevron to explore its oil and gas opportunities and contribute to the health, education and economic development of the people of Liberia,” stated the President.
