ASKER, NORWAY (17 November 2014) - The National Oil Company of Liberia (NOCAL) has announced the closing of the Liberia Basin competitive bid round, as of 14 November 2014. The round comprised of four undrilled offshore petroleum exploration blocks over which TGS has comprehensive, high quality, data coverage constituting 2D over Blocks LB-6, LB-7 and 2D/3D over Blocks LB-16 and LB-17.

The bid opening ceremony is taking place on 17 November and winners will be notified after the completion of bid evaluation, anticipated on 24 November.

"We are extremely pleased with the high level of interest and bid submissions from international and local oil companies. The success of this licensing round has demonstrated the industry's demand for exploration opportunities in Liberia. This demand should be further satisfied with another bid round (focusing on the Harper Basin) which is planned for next year once the regulatory reform has been completed," said Althea E. Sherman, General Counsel/Chief Operating Officer for NOCAL.