-Following the Ratification of Major Offshore Oil Exploration
Monrovia, December 18, 2025 – Liberia has ratified a series of major petroleum contracts following approval from the Liberian Legislature. The Liberia Petroleum Regulatory Authority (LPRA) announced today the formal ratification of contracts for eight offshore blocks, marking the most significant step in over a decade towards oil and gas exploration in Liberian waters.
The contracts award blocks LB-06, LB-11, LB-17, and LB-29 to global energy giant TotalEnergies EP Liberia, while blocks LB-15, LB-16, LB-22, and LB-24 have been granted to Oranto Petroleum Liberia Limited.
LPRA Director General, in a press release, hailed the legislature’s action and framed the agreements as a direct outcome of President Joseph Boakai’s 2024 pledge to the international energy community. The President committed to fostering an investment climate “anchored in ethics, law, best practice, and contract enforcement.”
A key highlight of the deal is the substantial upfront financial commitment secured for Liberia prior to any oil discovery. The LPRA confirmed the contracts guarantee the nation:
$27 million in signature bonuses.
Over $14.6 million in surface rentals.
Annual dedicated payments for national training initiatives, social programs, customs, and hydrocarbon development.
“Most importantly,” the LPRA stated, “the contracts enable Liberia to explore for and hopefully find oil,” potentially unlocking long-term economic transformation.
While expressing strong confidence in the technical and financial capacity of both TotalEnergies and Oranto to execute their work programs, the LPRA emphasized that this trust will be paired with rigorous oversight.
“The LPRA will ensure full compliance with all obligations, including work commitments and performance guarantees,” the authority affirmed. It pledged to provide necessary regulatory support within legal bounds to enable the companies to deliver, ensuring Liberia’s interests are protected throughout the exploration process.
The LPRA extended gratitude to key governmental partners, including the Ministries of Justice, Finance, and Mines & Energy, the National Oil Company of Liberia (NOCAL), and the Special Presidential Committee on Oil and Gas. This collaboration was credited with steering the process from the initial licensing round through complex negotiations to final legislative ratification.
Building on this milestone, the LPRA announced its intent to continue working with stakeholders to attract more operators to Liberia’s basin. The goal is to build momentum for potential commercial discoveries and the sustainable economic benefits they could yield for the Liberian people.
About the LPRA:
The Liberia Petroleum Regulatory Authority is the independent regulator for the upstream petroleum sector. Its mandates include conducting competitive bid rounds, leading petroleum contract negotiations, and administering all petroleum licenses and contracts.
