MONROVIA — Former Speaker of the House, Jonathan Fonati Koffa, has issued a sharp warning to the Legislature to reject the controversial production-sharing agreement (PSA) submitted by the government with Atlas Oranto Petroleum. Koffa argues the company lacks the technical and financial capacity to profitably explore Liberia’s ultra-deep-water offshore oil blocks and described the deal as a potential “betrayal” of the country’s petroleum future.
In his remarks during his appearance on Okay FM on Monday, November 3rd, Koffa drew on existing investigations and contract texts to back his critique:
“This company by its track record does not mean well for Liberia … If you’re getting into a contract with someone who doesn’t have the ability to perform, then you have to question the purpose of the contract,” he said.
Koffa cited Section 16.3 of the agreement to argue that the contract allows Oranto to claim back every investment cost — including the signing bonus — a structure he deems “irredeemable” for Liberia. He also points to the provision that the local participation share (5 %) may lapse if the Liberian entity (NOCAL) fails to claim it within 180 days.
“What’s bad about this is it becomes an empty gesture,” Koffa noted, referencing the citizen-participation clause.
He urged his colleagues to ask why the government selected Oranto instead of globally capable firms such as ExxonMobil, Chevron, or TotalEnergies. Koffa also referred to the company as a “flipper” — acquiring blocks to resell rather than develop — and cited past scandals in which Oranto blocks were sold through intermediaries after little investment.
Koffa’s concerns have been echoed by other lawmakers and rights groups, who argue the deal lacks transparency, competitive bidding, and adequate local content. Civil-society group STAND described the contract as “a brazen attack on Liberia’s sovereignty.”
The government argues the agreement is a major step in reviving Liberia’s petroleum sector. In a September 22, 2025 press release, the Executive Mansion announced the signing of four PSCs with Oranto covering blocks LB-15, LB-16, LB-22 and LB-24 — including a signature bonus of US$16 million.
As committees in the House prepare to review the deal, Koffa’s intervention is setting the tone for a legislative showdown over one of Liberia’s most significant natural-resource agreements in years.
