New Era Emerges …In Oil, Gas Sector; As NOCAL, LADOL Ink Major Deal

MONROVIA: The National Oil Company of Liberia (NOCAL) and Lagos Deep Offshore Logistics Base (LADOL) have signed a Joint Development Agreement (JDA).

The agreement is aimed at the construction and operation of a world-class logistic that will be based in Buchanan, Grand Bassa County.

This landmark partnership signals a new era for Liberia's oil and gas sector, with a clear focus on local capacity building and economic retention.


The partnership designates LADOL, a leading logistics and industrial free zone developer with extensive experience in the operation of one of Africa's largest shorebases in Lagos, Nigeria.


LADOL is also the technical lead partner to NOCAL in funding and conducting the feasibility study, coordinating the technical engineering design, and constructing and operating the shorebase.


The feasibility study is expected to commence in the next 45 days and last for six months.


The study will cover critical areas including land area assessment, waterfront and marine access, utilities planning, commercial and operational viability, geotechnical & topographical surveys as well as Environmental and Social Impact Assessment (ESIA) scoping.


The Buchanan Shorebase Project is a direct response to a critical lesson learned during Liberia's last drilling program.


During that campaign, a significant portion of essential oilfield services including waste disposal, logistics, supply chain management, and specialized technical support were sourced from neighboring countries such as Côte d'Ivoire, Ghana, and Senegal.


This resulted in substantial economic benefits and job opportunities being realized outside of Liberia.


In anticipation of accelerated drilling campaigns from petroleum agreements already signed by the Government of Liberia, with additional concessions to be signed in the future, this project is a massive endeavor in response to the needs of international oil companies.



"We are determined to correct that narrative as we prepare for our next set of drilling programs," said Fabian M. Lai, President & CEO of the NOCAL.



"This partnership with LADOL is about more than just building a logistic hub for Liberia. It is about anchoring the value chain of our petroleum sector firmly in Liberian soil. Our goal is to ensure that the jobs, the contracts, the training, and the ancillary services that support our petroleum operations are performed by Liberian companies and create opportunities for Liberian citizens right here in Liberia," added the CEO of NOCAL.

The agreement outlines a clear path for LADOL's role as a technical partner. LADOL will partner with NOCAL in constructing and operating the shorebase.


Furthermore, NOCAL and LADOL will serve as the exclusive developer, operator, and maintenance provider for the facility, with LADOL bringing its proven model of success to Liberia.


"This agreement is a testament to our confidence in Liberia's oil and gas potential and our commitment to fostering local content development across West Africa," said Sir Oladipo Ladi Jadesimi, Executive Chairman of LADOL.

"We are not just investors; we are partners in building a sustainable future for Liberia's oil and gas industry. By establishing this shorebase, we can help ensure that Liberian businesses and workers are the primary beneficiaries of the country's natural resources," he stressed.



As part of the agreement, the JDA includes provisions for a Joint Steering Committee to oversee the project's progress and a commitment to complete definitive project agreements.

The parties have also agreed to strict confidentiality and non-circumvention clauses to protect the integrity of the partnership.


The National Oil Company of Liberia (NOCAL) is a statutory public corporation of the Government of Liberia, representing the state interest in all petroleum agreement and responsible for the promotion, exploration, and development of the country's oil and gas resources.

The Lagos Deep Offshore Logistics Base (LADOL) is a leading indigenous African company providing integrated logistics and engineering solutions to the oil and gas industry. Its flagship facility in Lagos founded in 2000 is a major hub for offshore operations in West Africa.