On Tuesday, September 16, 2025 the Government of Liberia (GOL), through the Liberia Petroleum Regulatory Authority (LPRA), signed landmark production sharing contracts (PSCs) with TotalEnergies covering four (4) offshore blocks in the Liberian basin.
Once ratified by the National Legislature and signed by the President, these agreements will mark the end of a decade-long pause in Liberia’s offshore oil and gas sector and signal the country’s re-entry into the global petroleum landscape.
President Joseph N. Boakai has meanwhile hailed the signing of the contracts, and vowed to sign and transmit them to the National Legislature for due public scrutiny and ratification.
President Boakai recalled that in 2024 he invited world-class energy companies to Liberia and pledged that under his leadership the country would provide an environment where investment flourishes—anchored in ethics, the rule of law, international best practices, and strict enforcement of contracts to protect all stakeholders. He observed that the execution of these agreements with TotalEnergies demonstrates that this pledge is bearing fruit.
The President expressed full confidence in the interagency negotiation team led by the LPRA, and confirmed his administration’s readiness to sign the agreements and transmit them to the National Legislature for due public scrutiny and ratification.
He commended the LPRA for its leadership, and acknowledged the contributions of the Ministry of Finance and Development Planning, the Ministry of Justice, the Ministry of Mines and Energy, the National Oil Company of Liberia (NOCAL), and his Special Presidential Committee on Oil & Gas.
He stated that their collective efforts ensured a transparent, rules-based process that successfully attracted a world-class operator with deepwater expertise, strong financial capacity, and a proven record of responsible operations.
Looking ahead, President Boakai expressed his Administration’s commitment to ensuring that, following ratification and signing, exploration under these contracts proceeds according to the highest standards of safety, environmental stewardship, local content development, and transparent revenue management.
“Our natural resources must deliver durable value for the Liberian people,” the President emphasized. “These agreements, if properly managed, will not only strengthen Liberia’s economy but also create jobs, build skills, and open opportunities that will benefit generations to come,” he concluded.