Monrovia, December 19, 2025: The Liberia Petroleum Regulatory Authority (LPRA) has commended the Liberian Legislature for ratifying a new set of offshore petroleum contracts, describing the move as a significant milestone toward reviving offshore exploration after more than a decade of inactivity.
In a press release issued by the Office of the Director General, the LPRA confirmed that lawmakers approved petroleum contracts for Blocks LB-06, LB-11, LB-17, and LB-29 with TotalEnergies EP Liberia, and for Blocks LB-15, LB-16, LB-22, and LB-24 with Oranto Petroleum Liberia Limited.
According to the Authority, the ratified agreements stem directly from President Joseph Nyuma Boakai’s 2024 invitation to global energy companies, backed by a pledge that Liberia would offer a petroleum investment climate anchored in ethics, the rule of law, international best practices, and firm contract enforcement.
The LPRA disclosed that, even before any commercial discovery, the agreements have already secured substantial financial benefits for Liberia, including US$27 million in signature bonuses, over US$14.6 million in surface rentals, and annual payments earmarked for training, social development programs, customs support, and hydrocarbon sector development. Most critically, the Authority emphasized, the contracts reopen Liberia’s offshore basin to exploration with the hope of discovering oil and gas resources.
The Authority reaffirmed its confidence in the technical and financial capacity of both TotalEnergies and Oranto to execute their respective work programs. At the same time, the LPRA assured the public that this confidence will be matched by rigorous regulatory oversight.
“The LPRA will ensure full compliance with all contractual obligations, including work commitments and performance guarantees,” the statement said, adding that the regulator will also provide lawful and professional regulatory support to enable operators to meet their commitments.
The LPRA further expressed appreciation to key government institutions for their cooperation throughout the licensing round, negotiations, and ratification process. These include the Ministry of Justice, the Ministry of Finance and Development Planning, the Ministry of Mines and Energy, the National Oil Company of Liberia (NOCAL), and the Special Presidential Committee on Oil and Gas.
Building on this collaboration, the LPRA said it will continue engaging stakeholders to attract additional operators, strengthen confidence in Liberia’s petroleum sector, and lay the groundwork for potential discoveries and the long-term economic benefits they could bring to Liberians.
The Liberia Petroleum Regulatory Authority is the independent regulator of Liberia’s upstream petroleum sector, responsible for conducting bid rounds, leading petroleum contract negotiations and licensing, and administering petroleum contracts. -Edited by Othello B. Garblah
