TotalEnergies has taken a decisive step in expanding its African exploration portfolio with the signing of four new Production Sharing Contracts (PSCs) offshore Liberia.
The contracts, covering blocks LB-6, LB-11, LB-17, and LB-29, were formally awarded under the 2024 Direct Negotiation Licensing Round organized by the Liberia Petroleum Regulatory Agency (LPRA).
Speaking on the milestone, Kevin McLachlan, Senior Vice-President for Exploration at TotalEnergies, described the development as a new chapter for both Liberia and the French energy giant.
“TotalEnergies is enthusiastic to be part of the resumption of exploration activities in offshore Liberia.”
Kevin McLachlan, Senior Vice-President for Exploration at TotalEnergies
Spanning approximately 12,700 square kilometers in the southern Liberia Basin, the blocks are considered to hold significant untapped potential.
Under the agreements, TotalEnergies has committed to acquiring one firm 3D seismic survey as the first phase of its work program, laying the foundation for a renewed wave of offshore exploration in the country.
“Entering these blocks aligns with our strategy of diversifying our Exploration portfolio in high-potential new oil-prone basins.
“These areas hold significant potential for prospects that have the potential for large-scale discoveries that lead to cost-effective, low-emission developments, leveraging the Company’s proven expertise in deepwater operations.”
Kevin McLachlan, Senior Vice-President for Exploration at TotalEnergies
His comments reflect TotalEnergies’ long-term focus on balancing hydrocarbon exploration with environmental responsibility.
The company has consistently emphasized lowering emissions from new projects, particularly in offshore basins where advancements in deepwater technology have made production both safer and more efficient.
Liberia’s Petroleum Revival
For Liberia, the agreements mark an important step toward revitalizing its petroleum sector after years of limited activity.
The Liberia Basin, though underexplored compared to its West African neighbors, is believed to share similar geological characteristics with hydrocarbon-rich basins in Ghana, Côte d’Ivoire, and Nigeria.
The LPRA, which spearheaded the licensing round, has hailed the entry of TotalEnergies as a major boost to investor confidence in Liberia’s petroleum sector.
Officials say the presence of a global supermajor underscores the credibility of Liberia’s regulatory framework and its potential to attract sustained foreign investment.
TotalEnergies’ renewed push into Liberia comes at a time when the global oil and gas industry faces increasing pressure to align with energy transition goals.
For the company, which has rebranded itself as an integrated energy player, entering new exploration plays is a strategic choice to secure future supply while ensuring that developments are consistent with its low-carbon ambitions.
The company stressed that any potential discoveries in Liberia would be developed with advanced technologies designed to minimize emissions.
The resumption of offshore exploration also carries broader economic implications for Liberia.
Beyond direct investment in the petroleum sector, exploration activities typically generate employment opportunities, stimulate demand for local goods and services, and create openings for knowledge transfer to domestic institutions and professionals.
A Strategic Bet on West Africa
The four PSCs strengthen TotalEnergies’ footprint in West Africa, where the company already operates significant assets.
By entering the Liberia Basin, the firm is diversifying its exploration risk while positioning itself in a region that has consistently delivered some of the continent’s largest discoveries over the past two decades.
With seismic surveys expected to commence in the near future, Liberia will be closely watched by industry stakeholders.
If exploration progresses successfully, the country could join its neighbors in harnessing offshore petroleum to fuel economic growth.
For TotalEnergies, the contracts underscore its commitment to pursuing frontier opportunities while aligning with global calls for cleaner, more efficient oil and gas development.
For Liberia, they represent a chance to re-enter the energy spotlight, potentially reshaping its economic future.
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