LPRA Director Affirms, As GoL Signs Major Oil Exploration Deal with TotalEnergies
Paris, France –The Liberia Petroleum Regulatory Authority (LPRA) has announced the signing of four Production Sharing Contracts (PSCs) with French oil giant TotalEnergies, marking a historic milestone in Liberia’s energy sector. The agreements, which cover offshore Blocks LB-6, LB-11, LB-17, and LB-29 in the Liberian Basin, represent the first petroleum deals concluded by the country in more than a decade.
The contracts, signed in Paris, will become effective once endorsed by President Joseph N. Boakai and ratified by Liberia’s National Legislature. Officials say the agreements signal renewed international confidence in Liberia’s oil and gas potential and stand as one of the largest foreign investments in the sector in recent years.
LPRA Director General Marilyn T. Logan described the deal as a “turning point” for the country’s energy future. “The signing of these PSCs with TotalEnergies ends a decade-long pause on Liberia’s offshore petroleum program. It represents a vote of confidence in the reforms we have undertaken to attract responsible operators. Beyond potential resource development, this partnership will bring opportunities for local capacity building, knowledge transfer, and sustainable growth,” Logan said.
TotalEnergies, one of the world’s leading integrated energy companies, pledged its commitment to exploring Liberia’s offshore resources responsibly. Kevin McLachlan, the company’s Senior Vice President for Exploration, emphasized that the contracts align with the company’s global exploration strategy.
“Entering these blocks diversifies our portfolio in high-potential, oil-prone basins. Liberia’s offshore areas hold significant prospects that could lead to large-scale, low-emission developments. With our expertise in deep-water operations, we are confident of the opportunities ahead,” McLachlan noted.
The four agreements are the product of Liberia’s 2024 Licensing Round, which sought to attract credible investors through transparent bidding processes and strengthened governance mechanisms. According to LPRA, the contracts embed strict environmental and social safeguards, local content requirements, and provisions for transparent revenue management to ensure direct benefits for the Liberian people.
Analysts believe TotalEnergies’ entry will not only de-risk investment in Liberia’s upstream petroleum sector but also elevate the country’s profile as an emerging player in West Africa’s hydrocarbon market. With global demand for energy evolving, the deal is expected to bring Liberia both financial benefits and much-needed technical expertise, provided exploration yields commercial discoveries.
About LPRA:
The Liberia Petroleum Regulatory Authority (LPRA) is the independent regulator of Liberia’s upstream petroleum sector, overseeing licensing, compliance, and governance to ensure safe, transparent, and environmentally responsible operations that deliver sustainable value for both Liberians and international partners.
