MONROVIA, Liberia – President Joseph N. Boakai, Sr. has welcomed the signing of landmark Production Sharing Contracts (PSCs) between the Liberia Petroleum Regulatory Authority (LPRA) and TotalEnergies, covering four offshore blocks in the Liberian Basin.
According to an Executive Mansion release dated September 17, 2025, these agreements, once ratified by the National Legislature, will mark Liberia’s re-entry into the global petroleum market after a decade-long hiatus. President Boakai expressed full confidence in the interagency negotiation team, led by the LPRA, and confirmed his administration’s readiness to sign the agreements and transmit them for legislative 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 said. “The execution of these agreements with TotalEnergies demonstrates that this pledge is bearing fruit.”
The President commended the LPRA for its leadership and acknowledged the contributions of the Ministry of Finance and Development Planning, the Ministry of Justice, the Ministry of Mines and Energy, the National Oil Company of Liberia (NOCAL), and his Special Presidential Committee on Oil and Gas. He stressed that their collective efforts ensured a transparent, rules-based process that successfully attracted a world-class operator with deep-water expertise and a proven record of responsible operations.
President Boakai also emphasized his administration’s commitment to ensuring that the exploration under these contracts proceeds with the highest standards of safety, environmental stewardship, local content development, and transparent revenue management.
“Our natural resources must deliver durable value for the Liberian people,” he said. “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.”
TotalEnergies SE, founded in 1924, is a French multinational integrated energy company and one of the world’s seven “supermajor” oil companies.