Liberia Petroleum Regulatory Authority (LPRAaz) was established through an Act of the Legislature, following an aggressive reform program within the petroleum sector, as an independent regulatory entity of government. The Authority is principally authorized to conduct a technical evaluation of the areas to be opened up for petroleum operations, supervise and manage bid rounds and all other associated processes, enter into petroleum agreements and monitor petroleum operations, supervise petroleum data storage, and assist the Liberia Revenue Authority (LRA) in collecting lawful revenue accruing to the state under all petroleum-related agreements or licenses.