Published: September 17, 2025
MONROVIA — Liberia has struck a landmark deal with French oil giant TotalEnergies, signing four offshore production-sharing contracts that could revive the country’s stalled oil sector and reinsert it onto the global petroleum map for the first time in more than a decade.
The agreements cover blocks LB-6, LB-11, LB-17 and LB-29 in the Liberian Basin and await final approval by President Joseph N. Boakai Sr. and ratification by Liberia’s National Legislature. If endorsed, they will open the way for deepwater exploration in one of West Africa’s least developed but highly prospective frontier basins.
The Liberia Petroleum Regulatory Authority (LPRA) announced the contracts in Paris, hailing them as the most significant foreign investment in the sector in over ten years. Marilyn T. Logan, the agency’s director general, said the signing marked “a positive turning point in the country’s energy future” and restored international confidence in Liberia’s hydrocarbon potential.
“The signing of these PSCs with TotalEnergies ends a decade-long pause on Liberia’s offshore petroleum program and stands as a vote of confidence in the reforms we have undertaken to attract responsible operators,” Logan said. She added that the partnership offers not only resource development but also opportunities for capacity building, knowledge transfer, and sustainable growth.
Kevin McLachlan, TotalEnergies’ senior vice president for exploration, said the company was eager to re-enter Liberia’s waters. “Entering these blocks aligns with our strategy of diversifying our exploration portfolio in high-potential new oil-prone basins,” he said. “These areas hold significant potential for large-scale discoveries that can lead to cost-effective, low-emission developments, leveraging the company’s deepwater expertise.”
The contracts were awarded under Liberia’s 2024 Licensing Round, which offered 29 offshore blocks in the Liberia and Harper basins. The round provided prospective investors with access to extensive data, including tens of thousands of kilometers of 2D and 3D seismic surveys and gravity and magnetic mapping. Geological studies suggest Liberia shares key features with productive basins offshore Guyana, Suriname, and neighboring Côte d’Ivoire, including mature source rocks and strong trapping systems.
Liberia’s exploration history is checkered. Drilling campaigns in the 1970s and 1980s revealed hydrocarbons but no commercial finds. Civil conflict, oil price collapses, and a weak regulatory environment further discouraged investment. The turning point came with the 2019 amendment to Liberia’s petroleum law and the establishment of LPRA as an independent regulator, separating commercial and oversight functions previously held by the National Oil Company of Liberia (NOCAL).
The PSCs signed with TotalEnergies are designed to address past shortcomings. They include provisions on transparency, environmental safeguards, and local content requirements aimed at ensuring that Liberians benefit directly through jobs, training, and service contracts. For international observers, these commitments could make Liberia a model for responsible resource development in frontier basins.
President Boakai welcomed the agreements, describing them as proof that his pledge to create a stable, lawful, and ethical investment climate is yielding results. “In 2024, I invited world-class energy companies to Liberia and pledged that under my leadership the country would offer an environment where investment flourishes—grounded in ethics, the rule of law, international best practices, and the strict enforcement of contracts,” he said in a statement.
The president commended LPRA’s leadership and praised the coordinated role of ministries and his Special Presidential Committee on Oil and Gas, noting that their efforts produced a transparent, rules-based process. Boakai signaled his readiness to sign the contracts and forward them to the Legislature for ratification, stressing that exploration must proceed under the highest standards of safety, environmental stewardship, and transparent revenue management.
“Our natural resources must deliver durable value for the Liberian people,” Boakai said. “These agreements, when properly managed, will not only strengthen Liberia’s economy but also lay the foundation for jobs, skills, and opportunities that will benefit generations to come.”
Despite the optimism, Liberia faces hurdles. Deepwater exploration is among the most expensive and technically demanding in the industry, and global oil price volatility could undermine the economic viability of projects. Strong regulatory oversight will be critical to enforcing safety and environmental standards, and civil society groups are likely to push for full disclosure of contract terms and revenue flows.
Still, the opportunities are substantial. Liberia’s geological profile has long suggested the presence of hydrocarbons comparable to discoveries in neighboring basins. If exploration yields commercial discoveries, the country could attract further investment, boost infrastructure, and reshape its economic outlook.
For now, attention shifts to the Legislature, whose ratification will determine whether Liberia can turn this milestone into real results. If managed properly, agreements with TotalEnergies could move Liberia into the league of emerging oil producers. If not, the country risks falling back into the familiar cycle of unfulfilled promises in natural resource development.
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