The Liberia Petroleum Regulatory Authority (LPRA) on Thursday praised the Liberian Legislature’s ratification of a set of offshore petroleum production sharing contracts (PSCs), saying the approvals mark the first major restart of offshore exploration in more than a decade and affirming both the contractors’ capacity while pledging rigorous contract enforcement.
The ratified agreements award four blocks each to TotalEnergies EP Liberia (LB 06, LB 11, LB 17 and LB 29) and to Oranto Petroleum Liberia Limited (LB 15, LB 16, LB 22 and LB 24).
The LPRA said the contracts produced upfront financial benefits for the state — including about US$27 million in signature bonuses and more than US$14.6 million in surface rentals — in addition to commitments for annual payments tied to training, social programs, customs and hydrocarbon development.
The LPRA reiterated confidence in the ability of TotalEnergies and Oranto to deliver on their work programmes, but stressed that confidence will be matched by oversight. The regulator said it will ensure full compliance with contractual obligations, including work commitments and performance guarantees, while providing regulatory support “within the bounds of the law” to enable the companies to meet their commitments.
TotalEnergies said the four awarded blocks, which cover roughly 12,700 square kilometres in the southern Liberia Basin, hold significant potential for large scale discoveries.
The company plans seismic surveys and possible exploratory drilling as it seeks to revive activity in Liberia’s deepwater basins — the first substantial international upstream engagement in the country in over a decade. “TotalEnergies is enthusiastic to be part of the resumption of exploration activities in offshore Liberia,” Kevin McLachlan, Senior Vice President, Exploration at TotalEnergies, said in a statement.
The LPRA extended thanks to the Ministry of Justice, the Ministry of Finance, the Ministry of Mines and Energy, the National Oil Company of Liberia (NOCAL) and the Special Presidential Committee on Oil and Gas for their roles during the licensing round, negotiations and ratification.
The regulator said it will continue working with stakeholders to attract additional operators and to build the local frameworks needed to capture potential long-term economic benefits from any discoveries.
Liberia’s government has spent the past decade reforming its petroleum sector to attract investors after limited interest left the country’s 29 offshore exploration blocks largely uncontracted. Observers note Liberia lacks a refinery and is dependent on imports for petroleum products, a factor that has weighed on upstream interest until recent policy changes and the direct negotiation licensing round announced in 2024.
The LPRA also said it will monitor local content, training and community development commitments tied to the PSCs as the work programs move from award to execution.
