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Anadarko, Tongtai win Liberia offshore oil contracts

Reuters - Thursday, October 2

MONROVIA, Oct 1 - Anadarko Petroleum <APC.N> of the United States and Hong Kong Tongtai Petroleum have been awarded contracts to explore for oil off the shore of Liberia, the West African state oil firm said on Wednesday.

Liberia's infrastructure was ruined by a civil war that ended in 2003, but under President Ellen Johnson-Sirleaf is attempting to rebuild its economy by encouraging foreign investment in its natural resources.

Last month Spanish energy firm Repsol <REP.MC> and Australia's Woodside <WPL.AX> signed deals to explore for offshore oil. Chinese firm Sinopec Group also has an agreement with Liberia, though commercial drilling is still many years away, experts say.

In the most recent bidding round, Anadarko was awarded block LB-10 and Tongtai won blocks LB-6 and LB-7, Liberia's National Oil Company said in a statement.

A group that included world number one steelmaker Arcelor Mittal <ISPA.AS><MTP.PA> was unsuccesful in its bid.

ArcelorMittal is already a high-profile presence in Liberia, developing a $1 billion iron ore project.

As well as once being the world's fifth-biggest iron ore producer, Liberia has resources of rubber and timber.

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