Director-General Marilyn T. Logan of the Liberia Petroleum Regulatory Authority (LPRA) has hailed the landmark signing of Production Sharing Contracts (PSCs) between Liberia and TotalEnergies, describing the milestone as a historic turning point for the country's oil and gas sector.
The contracts, which cover four offshore blocks in the Liberian Basin, end a decade-long pause in the petroleum industry and pave the way for Liberia's re-entry into the global petroleum market.
Speaking after the signing, Madam Logan said the achievement reflects the LPRA's determination to deliver a transparent, rules-based process that inspires investor confidence while protecting Liberia's long-term interests.
"This agreement is a testament to the Government's commitment, under President Boakai's leadership, to conduct our petroleum sector with ethics, transparency, and international best practices," Logan noted.
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"We are proud that Liberia has attracted a world-class operator like TotalEnergies, which brings unmatched deepwater expertise, strong financial capacity, and a proven track record of responsible operations."
Madam Logan assured Liberians that the LPRA will remain vigilant in ensuring strict compliance with the contracts and maximizing benefits for the nation.
"This is not just a win for the Government, but for the Liberian people," she said. "The LPRA will ensure that exploration and eventual production contribute meaningfully to jobs, skills development, and sustainable revenue generation for future generations."
However, President Joseph Nyuma Boakai, Sr., who endorsed the deal, reaffirmed his Administration's readiness to sign the agreements and transmit them to the National Legislature for public scrutiny and ratification.
"In 2024, I invited world-class energy companies to Liberia and pledged that under my 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," President Boakai recalled.
"The execution of these agreements with TotalEnergies demonstrates that this pledge is bearing fruit."
The President praised the LPRA's leadership and acknowledged the contributions of the Ministry of Finance and Development Planning, Ministry of Justice, Ministry of Mines and Energy, the National Oil Company of Liberia (NOCAL), and his Special Presidential Committee on Oil & Gas for their collective role in reaching the agreement.
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Looking to the next phase, President Boakai stressed that exploration activities under the contracts will be carried out in line with global standards of safety, environmental protection, local content promotion, and transparent revenue management.
"Our natural resources must deliver durable value for the Liberian people," he emphasized. "These agreements, when properly managed, will not only strengthen Liberia's economy but also create jobs, build skills, and open opportunities that will benefit generations to come."
