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African Petroleum makes major oil discovery in Liberia/West Africa

Posted By SEM On February 24, 2012 @ 12:21 am In Global News,National News | Comments Disabled

As part of its massive exploration and investment drive in the Africa sub-region, African Petroleum Limited has made yet another significant oil discovery.

The company has announced that it found a total of 32 metres (105 feet) of net oil pay in two zones in Liberia,West Africa. The company said it has discovered a net oil pay of 21 metres (69 feet) in Turonian and Albian reservoirs.

This discovery marks yet another success in the drive of the international conglomerate of oil and iron ore baron, Frank Timis (in photo) , Timis Corporation, under which the African Petroleum operates.

It is no gainsaying that perhaps the biggest business name in Sierra Leone at present is Timis Corporation that includes African Minerals Limited and African Petroleum Limited.

African Petroleum Corporation Limited founded by the Timis Corporation in 2003 holds exploration and development licenses for a total of eight off-shore blocks in the Gulf of Guinea, off the coast of Liberia and Sierra Leone.

The company has also been granted exploration and development licenses in The Gambia, Ivory Coast, Senegal, and for Block 3 in the Gulf of Guinea, and applications for licenses to explore and develop 5 more blocks in the region have almost gone through.

These blocks lie directly between the billion barrel discoveries of Anadarko and Tullow Oil’s Jubilee oil field to the east, off the coast of Ghana, and Anadarko’s Venus oil field to the west, off the coast of Sierra Leone.

The name Frank Timis is a household name in the private sector in West Africa that is synonymous with national development.

Apart from the fact that Frank Timis’ corporation is currently employing thousands of Sierra Leoneans; the corporation has also been very active in terms of fulfilling its corporate social responsibility in its areas of operations.

Sierra Leoneans see Frank Timis more like a philanthropist rather than a businessman, as a result of his uncountable humanitarian gestures to the people of this country over the years.

Provisions of scholarships to hundreds of school children all over the country, and prompt adherence to government obligations form part of the work of  Frank Timis in Sierra Leone and other parts of West Africa. Youths have described him as being the highest private sector employer in Sierra Leone, apart from the fact that people living around African Minerals operational sites benefit indirectly from the company’s operations. Owners of private commercial vehicles have never been happier than with the arrival of African Minerals to the country. Hundreds of private passenger vans, mini buses and other utility vehicles are on permanent hire to the company which not only pays the owners promptly but adequately as well for use of the vehicles. This has resulted in more Sierra Leoneans learning driving whilst vehicle importers have realized an increase in the number of sales they make. There are several other developments which can be outlined that are taking place today because of the establishment of African Petroleum and African Minerals in the West African sub-region.

Click here [2] for more details on the Liberia oil discovery.

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URLs in this post:

[1] SEM: http://www.sierraexpressmedia.com/archives/author/sierra-express-media

[2] Click here: http://www.africanpetroleum.com.au/IRM/Company/ShowPage.aspx/PDFs/1260-66644865/SignificantOilDiscoveryatNarina1

[3] Guinea to award Simandou iron ore project to Chinalco: http://www.sierraexpressmedia.com/archives/56552

[4] Frank Timis and African Minerals in £25m damages claim: http://www.sierraexpressmedia.com/archives/54833

[5] African Petroleum Corporation Limited to Raise A$85.0 million: http://www.sierraexpressmedia.com/archives/44941

[6] The many facets of Frank Timis: http://www.sierraexpressmedia.com/archives/5897

[7] Carmen Timis meets street kids in Makeni: http://www.sierraexpressmedia.com/archives/41725

[8] African Minerals secures $350m credit facilities from Standard Bank SA: http://www.sierraexpressmedia.com/archives/52737

[9] African Petroleum awarded Exploration Permit in Côte d’Ivoire: http://www.sierraexpressmedia.com/archives/37055

[10] African Minerals doing more than expected: http://www.sierraexpressmedia.com/archives/65691

[11] NOCAL, African Petroleum Clash: http://www.sierraexpressmedia.com/archives/51836

[12] Sierra Express Media: http://www.sierraexpressmedia.com

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