Canadian Overseas Petroleum (LON:COPL) told investors that ExxonMobil, its exploration partner in Liberia, is now planning the next steps for the LB-13 drilling project.
It comes after the West African country was declared free of Ebola by the Wold Health Organisation.
Work had been on hold due to the Ebola crisis in the region.
Exxon, which supported the relief organisations during the crisis, has maintained regular meetings with the Liberian authorities and it has remained committed to completing its obligations of the LB-13 production sharing contract (PSC).
The obligations include the drilling of a one exploration well during the current phase of the PSC, which runs to April 2016.
“The government of Liberia continues to provide its assurances that it will act under the terms of the PSC to provide the company and ExxonMobil sufficient time to complete their work program, extending the current exploration period if necessary,” COPL said in a statement.
COPL has a 17% stake in the ExxonMobil operated Block LB-13 offshore exploration project.