MONROVIA – The Liberia Petroleum Regulatory Authority (LPRA) has announced the signing of four Production Sharing Contracts (PSCs) with Africa’s largest privately held exploration and production company, Atlas Oranto Petroleum International Ltd., covering offshore Blocks LB 15, LB 16, LB 22, and LB 24 in the Liberian Basin.
The agreements, which include a $15 million signature bonus, will become effective once ratified by Liberia’s Legislature and signed by President Joseph N. Boakai. They establish strict environmental and social safeguards, transparent fiscal terms, and local content requirements designed to ensure that Liberians benefit from both employment and skills development in the upstream petroleum sector.
Reigniting Liberia’s Upstream Sector
These PSCs mark the first set of upstream petroleum agreements concluded in Liberia in a decade, following a long hiatus in exploration drilling. The move is part of a broader effort to attract investors and revitalize Liberia’s hydrocarbon potential.
Marilyn T. Logan, Director General of LPRA, emphasized the significance of the deal: “Atlas Oranto’s entry into Liberia is a testament to our hydrocarbon potential and our commitment to creating opportunities for African companies to play a role in developing Liberia’s upstream program. Their presence will ensure Liberians benefit not only from exploration success but also from job creation, skills development, and knowledge transfer,” she said.
Prince Arthur Eze, Executive Chairman of Atlas Oranto, described the partnership as historic: “We are proud to join Liberia at this important moment. We see Liberia not just as an investment destination, but as a partner for success,” he said.
Atlas Oranto: Africa-Led Exploration
With a deep footprint in West Africa and a reputation for sustainable development, Atlas Oranto brings regional expertise, strong partnerships, and a commitment to local content. The company has previously worked across Africa to develop indigenous talent, support local supply chains, and ensure environmentally responsible operations.
Background
The PSCs were negotiated under Liberia’s Petroleum (Exploration and Production) Law and are designed to balance commercial viability with social and environmental responsibility. They incorporate transparent revenue management provisions, robust local content rules, and strict environmental safeguards.
For Liberia, the deals represent an important step toward revitalizing the upstream petroleum sector, attracting credible African investors, and creating employment and skills development opportunities for Liberians.
About LPRA
The Liberia Petroleum Regulatory Authority 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 Liberian citizens and international partners.
