Monrovia– In a substantial effort to revitalize Liberia’s energy sector, the Liberia Petroleum Regulatory Authority (LPRA) has signed four offshore Production Sharing Contracts (PSCs) with Atlas Oranto Petroleum International Ltd., marking the country’s first major upstream petroleum agreements in a decade.
The contracts cover offshore Blocks LB 15, LB 16, LB 22, and LB 24 in the Liberian Basin and include a signature bonus of $15 million. The agreements will take effect following ratification by Liberia’s National Legislature and approval by President Joseph N. Boakai, as required by national law.
These PSCs are central to Liberia’s strategy to resume exploration drilling after a prolonged hiatus. Atlas Oranto, Africa’s largest privately held oil and gas exploration and production group, brings extensive regional experience and a strong Africa-focused operational model to the partnership.
Marilyn T. Logan, Director General of the LPRA, highlighted the significance of the agreement: “Atlas Oranto’s entry into Liberia is a testament to Liberia’s hydrocarbon potential and its commitment to creating opportunities for African companies to play a role in the development of Liberia’s upstream program.”
She added that the partnership would deliver tangible benefits to Liberians, including job creation, skills development, and knowledge transfer.
Prince Arthur Eze, Executive Chairman of Atlas Oranto, expressed enthusiasm about the venture: “We are proud to join Liberia at this historic moment, and we see Liberia not just as an investment destination, but a partner for success.”
The newly signed PSCs incorporate stringent environmental and social safeguards, transparent fiscal terms, and robust local content requirements designed to ensure that Liberians benefit directly from the growth of the petroleum sector.
Atlas Oranto’s established presence across Africa positions Liberia to leverage regional expertise and a commitment to developing local talent and supply chains.
About the Liberia Petroleum Regulatory Authority (LPRA)
The LPRA is the independent regulator of Liberia’s upstream petroleum sector, responsible for licensing, oversight, and ensuring safe, transparent, and environmentally sustainable operations.
