The National Oil Company of Liberia (NOCAL) has released its Annual Budget for 2013/2014. The release of NOCAL’s Annual Budget is in compliance with its core value of transparency according to a release from the Oil Company.
In the release, the budget which is a balanced budget projects inflows from Social Welfare contributions, Hydrocarbon Development Fund, Assets Transfer, Data Agreement, Annual Training and Bid Round Application Fees.
According to NOCAL, a significant portion of projected outflows is directed at Manpower Training and Capacity Building, as well as Capital Expenditure and Development.
NOCAL’s Senior Vice President/Vice President for Finance, Madam Marie E. Leigh Parker said the budget strategically responds to the priorities of Liberia’s emerging hydrocarbon sector with heavy emphases directed towards Manpower Training and Capacity Building.
Madam parker promised a scrupulous implementation of the budget and said the sector will move in a strategic direction at the end of the 2013/2014 budget year.