The Liberia Petroleum Regulatory Authority (LPRA) announces the execution of four Production Sharing Contracts (PSCs) with Atlas Oranto Petroleum International Ltd. (“Atlas Oranto”), covering offshore Blocks LB 15, LB 16, LB 22, and LB 24 in the Liberian Basin. The contracts ensure strict environmental and social safeguards and transparent fiscal terms, including 15 million signature
bonus. As per Liberian law, the PSCs will become effective upon ratification by Liberia’s National Legislature and signature by His Excellency President Joseph N. Boakai.
The PSCs are part of an ongoing camping to recommence exploration drilling in Liberia’s upstream petroleum sector after a decade-long pause. Atlas Oranto is Africa’s largest privately held exploration, and production group that has deepened its presence in West Africa and expanding into Liberia.
With extensive regional experience and a strong track record of partnerships across Africa, Atlas Oranto brings an Africa-led commitment to exploration, local content, and sustainable development.
Marilyn T. Logan, Director General of LPRA, said: “Atlas Oranto’s entry into Liberia is a testament to Liberia’s hydrocarbon potential and its commitment to creating opportunities for African companies to play a role in the development of Liberia’s upstream program”.
“Atlas Oranto’s presence will ensure that Liberians benefit not only from exploration success but job creation, skills development, and knowledge transfer.” Prince Arthur Eze, Executive Chairman of Atlas Oranto Petroleum International Ltd., said: “We are proud to join Liberia at this historic moment, and we see Liberia not just as an investment destination, but a partner for success.”
Background:
These PSCs are part of Liberia’s first set of upstream petroleum agreements in ten years. They were concluded under the Petroleum (Exploration and Production) Law of Liberia. The PSCs incorporate environmental and social safeguards, transparent revenue management provisions, and robust local content requirements, ensuring Liberians benefit directly from sector growth. With Atlas Oranto’s deep African footprint, Liberia will benefit from a partner with regional experience and a strong commitment to developing indigenous talent and supply chains.
About LPRA:
The Liberia Petroleum Regulatory Authority (LPRA) is the independent regulator of Liberia’s upstream petroleum sector. LPRA oversees licensing, compliance, and governance to ensure
safe, transparent, and environmentally responsible operations that deliver sustainable value for the Liberian people and international partners.
