Atlas-Oranto Petroleum secured four offshore exploration blocks in Liberia, boosting the country’s ongoing upstream revival.
The deal follows closely after TotalEnergies obtained four offshore blocks in the Liberia basin, and ExxonMobil re-entered the market in 2023 with its own set of blocks.
President Joseph Nyuma Boakai announced the signing of four production sharing contracts (PSCs) between the Liberia Petroleum Regulatory Authority and Atlas-Oranto. The agreements cover blocks LB-15, LB-16, LB-22, and LB-24.
Officials signed the contracts in Paris, attaching a $12 million signature bonus and projected investments of $200 million per block. The move aims to inject fresh momentum into Liberia’s oil and gas industry after more than a decade of limited exploration activity.
Boakai emphasized that Liberia will manage its energy resources transparently and responsibly. He pledged strict environmental safeguards, stronger local participation, and clear accountability to ensure citizens directly benefit from the sector’s growth.
The government will now send the four PSCs to the national legislature in Monrovia for ratification.
source: www.upstreamonline.com
African Energy Council