By Ayomide Otitoju
TotalEnergies has signed four Production Sharing Contracts (PSCs) for exploration blocks in Liberia, marking a major step in the country’s push to unlock its offshore oil and gas potential. The agreements, concluded under Liberia’s 2024 Direct Negotiation Licensing Round, cover Blocks LB-6, LB-11, LB-17 and LB-29 in the southern Liberia Basin.
The government views the contracts as central to its strategy to monetize offshore hydrocarbon resources and stimulate future discoveries. The African Energy Chamber (AEC) welcomed the move, describing it as a direct outcome of Liberia’s proactive reforms and efforts to attract investment into the sector.
“These PSCs represent more than a corporate milestone – they reflect Liberia’s resurgence as a competitive frontier for oil and gas investment,” said NJ Ayuk, Executive Chairman of the AEC. “TotalEnergies’ expertise, combined with government reforms, sets the stage for new discoveries, job creation and sustainable development.”
The four contracts cover about 12,700 km² of acreage in oil-prone basins considered highly prospective. As part of its work program, TotalEnergies plans to conduct a 3D seismic survey to deepen geological understanding of the area. The Liberia Basin and neighboring Harper Basin are already supported by extensive seismic data acquired through a partnership between the government and energy data firm TGS.
Liberia remains largely under-explored but is regarded as promising due to its favorable geology and updated regulatory framework. Amendments to the country’s Exploration & Production Law in 2019 established more transparent licensing processes and incentives, including full cost recovery on pre-PSC seismic data.
The 2024 licensing round offered 29 blocks across the Liberia and Harper Basins, attracting interest from both major oil companies and independents. Analysts say the signing of PSCs with TotalEnergies signals renewed international confidence in Liberia’s frontier oil and gas sector.
