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The Government of the Republic of Liberia has signed a Production Sharing Contract (PSC) with TotalEnergies, marking a significant advancement in the nation’s oil and gas sector. The agreement was finalized yesterday, September 15, 2025, at TotalEnergies’ Global Headquarters in Paris, France, and includes a signature bonus of US$16 million.

This landmark deal grants TotalEnergies exploration rights over four offshore blocks: LB-6, LB-11, LB-17, and LB-29, each with an estimated investment value of US$200 million. In preparation for this partnership, TotalEnergies has already invested nearly US$3.5 million to acquire seismic data, demonstrating its confidence in Liberia’s hydrocarbon potential.

TotalEnergies, one of the world’s largest integrated energy companies, operates in over 120 countries and employs nearly 100,000 people. The French energy giant produces approximately 2.4 million barrels of oil equivalent per day, with nearly half coming from natural gas. The company is also expanding into renewables and electricity, where it currently holds more than 30 gigawatts of capacity. Despite a softer market in 2024, TotalEnergies reported a solid US$18 billion in profit and continues to maintain strong cash flows.

The agreement emphasizes capacity-building for Liberians, with dedicated funding for training and development initiatives. TotalEnergies’ extensive experience across the West African Transform Margin positions it as a capable partner to help unlock Liberia’s offshore potential while balancing traditional oil and gas investments with those in low-carbon energy.

We want to extend our heartfelt gratitude to TGS, Liberia's geophysical and geological partner for nearly 25 years, for supporting the nation in achieving this milestone. The marketing and promotion of Liberia's upstream subsurface potential starts with TGS's efforts, alongside NOCAL's commitment to showcasing the opportunities available in Liberia’s upstream acreage to international oil companies.

Representing the Government of the Republic of Liberia at the signing ceremony were Hon. Fabian Michael Lai, President and CEO of NOCAL; Hon. Augustine Kpehe Ngafuan, Minister of Finance; Hon. Cllr. N. Oswald Tweh, Minister of Justice; and Hon. Marilyn Logan, Director General of the LPRA. The deal will now proceed to the Liberian Legislature for review, as required under our laws.

This partnership strengthens Liberia’s energy outlook and aligns with TotalEnergies’ global mission of driving growth while advancing the energy transition.