By New Dawn

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The Liberia Petroleum Regulatory Authority (LPRA) has announced the signing of four landmark Production Sharing Contracts (PSCs) with Atlas Oranto Petroleum International Ltd., covering offshore Blocks LB-15, LB-16, LB-22, and LB-24 in the Liberian Basin.

The contracts, concluded under Liberia’s Petroleum (Exploration and Production) Law, include strict environmental and social safeguards, transparent fiscal terms, and a US$15 million signature bonus. In accordance with Liberian law, the agreements will become effective upon ratification by the National Legislature and approval by President Joseph N. Boakai.

This development marks a significant step in Liberia’s ongoing campaign to restart exploration drilling in the upstream petroleum sector, an activity that has been dormant for over a decade.

Atlas Oranto, Africa’s largest privately held exploration and production company, is expanding its footprint into Liberia. With an established presence across West Africa, the company brings a wealth of regional expertise and a commitment to local content, exploration excellence, and sustainable development.

“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,” said Marilyn T. Logan, Director General of the LPRA.

“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., reaffirmed the company’s long-term vision:

“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.”

These PSCs are part of the first set of upstream petroleum agreements Liberia has signed in ten years. The contracts incorporate provisions for transparent revenue management and robust local content, ensuring direct benefits for Liberians through employment, business opportunities, and capacity development.

With Atlas Oranto’s deep African roots, Liberia stands to gain a strategic partner committed to developing indigenous talent and local supply chains, a critical pillar of the government’s petroleum strategy.

The LPRA made the disclosure in an official statement issued on Wednesday, September 24, 2025.

This announcement comes just days after the LPRA signed another set of four PSCs with global energy giant TotalEnergies, covering offshore Blocks LB-6, LB-11, LB-17, and LB-29. That agreement, signed in Paris, is also pending ratification by the National Legislature and final endorsement by President Boakai.

The TotalEnergies agreement represents Liberia’s first upstream petroleum deal in over a decade. It is seen as one of the most significant foreign direct investments in the country’s oil and gas sector since the early 2010s.

Welcoming the TotalEnergies deal, President Joseph Nyuma Boakai hailed it as a turning point in Liberia’s energy journey:

“We are ready to sign and transmit the agreements to the National Legislature, ensuring full public scrutiny and legal backing,” the President said.

He further pledged to uphold strict environmental, social, and safety standards as exploration activities begin.

The Liberia Petroleum Regulatory Authority (LPRA) serves as the independent regulator of the nation’s upstream petroleum sector. It is responsible for licensing, compliance, governance, and ensuring that operations in the industry are conducted in a safe, transparent, and environmentally responsible manner, ultimately delivering sustainable value for the Liberian people and international partners.-Edited by Othello B. Garblah.