—-Signs Major Oil Deal with TotalEnergies
“The signing of these agreements ends a decade-long pause on Liberia’s offshore petroleum program, marks a positive turning point in the country’s energy future, and stands as a vote of confidence in the reforms we have undertaken to attract responsible operators” – Marilyn T. Logan, Director General, LPRA.
When President Joseph Nyuma Boakai entered office in 2024, Liberia’s oil and gas sector had been dormant for more than a decade, foreign capital had largely stayed away, and doubts lingered over the strength of state institutions. Less than two years later, the country’s image on the global stage has begun to shift dramatically.
The turning point came this week in Paris, where Liberia secured four production sharing contracts with TotalEnergies, one of the world’s largest energy companies. The agreements cover offshore blocks LB 6, LB 11, LB 17 and LB 29 in the Liberian Basin. They await the President’s signature and ratification by the National Legislature before exploration can begin. The signing ceremony marks the start of TotalEnergies’ exploration work, which will focus on assessing the basin’s potential. Should the surveys reveal oil in commercial quantities, further approvals and additional drilling would be required before full-scale production. This phased approach ensures that the process is guided by careful technical assessment and international standards.
“This is the strongest signal yet that Liberia is open for business,” Boakai said after the announcement. “We have promised transparency, respect for contracts, and international standards, and the world is responding.”
The agreements are the direct result of a licensing push launched by the Liberia Petroleum Regulatory Authority in 2024. That initiative reopened Liberia’s offshore acreage to international operators and set clear rules for bidding, exploration, and development. According to Marilyn T. Logan, Director General of LPRA, “The signing of these agreements ends a decade-long pause on Liberia’s offshore petroleum programme, marks a positive turning point in the country’s energy future, and stands as a vote of confidence in the reforms we have undertaken to attract responsible operators.”
The presence of TotalEnergies brings more than the promise of oil. The company provides financial backing, advanced deepwater technology, and expertise that can raise Liberia’s profile as a credible investment destination. Local workers and firms stand to gain from contracts, training, and skills transfer, while strict rules on local content, environmental protection, and revenue transparency aim to ensure Liberians benefit directly from the sector’s growth.
Industry experts say the significance of the deal extends beyond geology. “What investors are watching is governance,” said Emmanuel Kpadeh, an energy consultant in Monrovia. “By running a rules-based process and securing a world-class operator, Liberia has changed the story about itself. That has spillover effects for other sectors beyond oil.”
Civil society leaders caution that oversight will be crucial. “Oil can be a blessing or a curse,” said Theresa Kollie, Director of the Monrovia-based Centre for Economic and Social Accountability. “The government must guarantee transparency, involve communities, and protect the environment if this deal is to benefit ordinary Liberians.” Environmental advocates have also stressed that safeguards for marine life and coastal communities must be enforced, not just written into contracts.
If managed effectively, the economic ripple effects could be substantial. Exploration will generate contracts for logistics, port services, and other local industries. Training and knowledge transfer can strengthen human capital, while eventual production revenues could fund infrastructure, schools, and health services. However, offshore exploration is costly and slow to yield results, so the benefits depend on strict oversight, adherence to environmental standards, and enforcement of local content rules.
The entry of TotalEnergies has already enhanced Liberia’s international standing. Investors in mining, infrastructure and other sectors are likely to take note of a government that is capable of negotiating complex agreements with major global partners. For Boakai, the contracts are one of his earliest economic achievements, showing that with transparency, political will, and careful planning, Liberia can re-establish itself as a credible destination for long-term investment.
Next steps are clear: the contracts must be signed by the President and ratified by the national legislature before exploration begins. While commercial discoveries may take time, the presence of TotalEnergies signals a new era of opportunity, training, and investment for Liberia and its people.
