Monrovia – The House of Representatives has approved two major oil exploration agreements involving TotalEnergies and Oranto Petroleum. Lawmakers reached the decision late Thursday through majority votes.
TotalEnergies Oil Deal
TotalEnergies, a major global energy company headquartered in France, signed four Production Sharing Contracts (PSCs) for offshore exploration blocks LB-6, LB-11, LB-17, and LB-29 in the Liberian Basin. These contracts were awarded under the 2024 Direct Negotiation Licensing Round.
The agreements aim to revive exploration activities in Liberia’s deepwater basins through seismic surveys and the potential drilling of wells. TotalEnergies brings significant technical expertise and investment strength, marking the first major international upstream engagement in Liberia in more than a decade.
The deal is viewed as a major step toward revitalizing Liberia’s dormant oil sector, attracting foreign investment, and strengthening local content participation and environmental safeguards.
Oranto Petroleum Oil Deal
Atlas/Oranto Petroleum Liberia Limited, a subsidiary of the Nigerian-linked Oranto Petroleum group, signed PSCs for four offshore blocks — LB-15, LB-16, LB-22, and LB-24 — which include signature bonuses and commitments to undertake exploration activities.
Background & Controversy
Oranto previously held Liberian oil blocks but transferred them to Chevron without drilling, raising concerns about the company’s capacity, tax compliance, and overall track record. Critics have also questioned the transparency and terms of the new agreements.
The deal has sparked public debate, with growing calls for greater transparency and assurances that the agreements will deliver meaningful benefits to Liberia.
Support Independent Journalism
Your support helps FrontPage Africa continue delivering independent, credible, and impactful journalism. Every contribution strengthens our ability to investigate, inform, and hold power accountable while keeping quality journalism accessible to our readers.
Support our journalism or subscribe to receive the latest FrontPage Africa stories and updates.
