African Petroleum announces oil discovery in Liberia
As part of its massive exploration and investment drive in the Africa sub-region, African Petroleum has made yet another significant oil discovery. The company has announced that it found a total of 32 meters of net oil pay in two zones in Liberia, West Africa.
The company said it has discovered a net oil pay of 21 meters 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, 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 and African Petroleum. African Petroleum Corporation 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 bn 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’s 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.