Liberia’s petroleum regulator said it will require demonstrable financial, technical and legal capacity from companies seeking rights under an Executive Allocation scheme as it moves to award four offshore blocks to the state oil company and its partners.
The Liberia Petroleum Regulatory Authority (LPRA) on Tuesday published an Executive Allocation Framework and pre qualification requirements that will guide evaluation of the National Oil Company of Liberia (NOCAL) and its proposed partners.
The EA process, set out under Section 14 of the 2019 amendment to Liberia’s Petroleum (Exploration and Production) Law, is being used alongside competitive bidding and direct negotiation as a route to award petroleum rights.
Under the framework, applicants must demonstrate sufficient financial strength to undertake exploration and production activities in Liberian waters, in addition to meeting technical and legal thresholds.
The LPRA said the EA process remains subject to statutory pre qualification, due diligence and other regulatory checks.
The regulator outlined a multi step approval pathway that includes LPRA due diligence and approval, negotiation of production sharing contracts with input from the Ministry of Finance, Ministry of Justice and Liberia Revenue Authority, and final ratification by the National Legislature and presidential assent.
The LPRA framed the measures as part of a broader government push to strengthen NOCAL’s institutional and commercial capacity while preserving value for Liberia, and said publishing the framework underscores a commitment to transparent petroleum governance.
Analysts said requiring clear evidence of financing could narrow the field of eligible partners but also seeks to reduce execution risk and boost investor and public confidence in Liberia’s upstream program.
