The Gulf of Guinea, stretching from Liberia to Gabon, is a known depository of oil reserves. Ghana is the latest country to announce a significant off-shore oil discovery.
Liberia is positioned to play a key role in the production of off-shore oil for the local market and world economies. Tapping in to oil wells is no easy task and sometimes requires years of drilling. The advent of oil and gas would naturally mean down streaming needs for which investment would be needed.
Opportunities in relation to the oil sector are expansive, ranging from financial services, to shipping, housing and office space, as well as an array of secondary support services. International investment in to this are should expand beyond the oil exploration and extraction itself – it should also incorporate many fecets of the Liberian economy.
The government of Liberia is keen on reserving recent unhealthy trends within this crucial sector by assigning trained professionals to oversee it. Because this is a new, emerging sector, investment is needed in every aspect as Liberia continues to unearth its offshore potential.