Liberia signs offshore exploration deals

Liberia’s government signed deals with one Liberian and two foreign oil companies to explore possible offshore oil deposits along the West African nation’s Atlantic Ocean coast, a top industry official said Tuesday.

Britain’s Broadway Consolidated, Nigeria’s Oranto Petroleum Ltd., and Regal Liberia Ltd. signed the deal with Liberia’s state oil firm late last week, agreeing to underwrite the search for $34 million, Musa Dean, head of the National Oil Company of Nigeria told The Associated Press