CAPE TOWN, South Africa, October 15, 2026: Liberia has officially opened 15 offshore oil exploration blocks to international petroleum companies, launching a new licensing round to attract foreign investment and advance the search for commercially viable petroleum resources.
The 2026 Offshore Direct Negotiation Licensing Round was launched Wednesday, October 14, at African Energy Week in Cape Town by the Liberia Petroleum Regulatory Authority (LPRA), with senior government officials, international oil companies, and industry representatives in attendance.
The offering includes 12 blocks in the Liberia Basin and three in the Harper Basin, with interested companies given until April 15, 2027, to participate in the licensing process.
In a video message to the gathering, President Joseph Nyuma Boakai pledged his administration’s full support for the initiative, assuring prospective investors of a transparent regulatory environment and predictable contractual arrangements.
Boakai emphasized that Liberia’s laws are clear and enforceable and that the government would respect agreements with investors, while insisting that all contracts protect the interests of both Liberia and its investment partners.
“No agreement is worth signing unless it works for all parties to it,” the President declared.
“Today, I assure you that the journey you are about to begin with Liberia—through the LPRA—carries the full support of the Liberian government,” he added.
Speaking at the launch, LPRA Director General Marilyn T. Logan expressed confidence in Liberia’s offshore petroleum potential and encouraged qualified international companies to take advantage of the opportunities.
“Our petroleum system works,” Logan declared, urging prospective investors to submit letters of intent before the April 15, 2027, deadline.
“Whichever company makes the first discovery will play a significant role in the history of our country,” she added.
Logan emphasized the Authority’s “Explore or Release” principle, under which companies awarded exploration blocks must fulfill their contractual obligations or relinquish the acreage in accordance with applicable laws and agreements.
The policy is intended to discourage companies from holding exploration rights without undertaking meaningful petroleum exploration.
The 15 blocks include LB-1, LB-2, LB-3, LB-7, LB-12, LB-13, LB-14, LB-18, LB-19, LB-20, LB-21, and LB-23 in the Liberia Basin, along with LB-25, LB-28, and LB-33 in the Harper Basin.
According to the LPRA, the licensing round is supported by more than 50,000 line-kilometers of two-dimensional seismic data and approximately 31,000 square kilometers of three-dimensional seismic coverage.
Technical data provider TGS has also reprocessed approximately 12,000 kilometers of 2D seismic data and 5,100 square kilometers of 3D data to help investors assess potential petroleum deposits.
ENARJI Managing Director Jason Robinson said geological evidence suggests the presence of a working petroleum system offshore Liberia, offering significant deepwater exploration opportunities.
Meanwhile, LPRA Deputy Director General for Finance Robert Sonkarlay assured investors that Liberia’s fiscal framework provides competitive terms and long-term predictability.
“Investors are not just looking to find attractive fiscal terms; they’re also looking for fiscal predictability,” Sonkarlay said.
He explained that Liberia’s petroleum fiscal arrangements are benchmarked against international industry practices to attract credible investors while safeguarding national interests.
LPRA Board Member Cllr. Kou Dorliae similarly emphasized regulatory stability, noting that prequalification remains valid for five years, allowing eligible companies to pursue investment opportunities during that period.
Under the direct negotiation framework, interested companies must demonstrate adequate financial resources, technical expertise, and offshore exploration experience before negotiating exploration programs and contractual arrangements.
The process is governed by Liberia’s 2014 Petroleum Exploration and Production Act, as amended in 2019.
The new licensing round follows the conclusion of eight petroleum production-sharing contracts with TotalEnergies and Atlas Oranto Petroleum in 2025, which the LPRA considers a significant step toward renewed investment in Liberia’s offshore petroleum sector.
Preparations for the latest round included an investor engagement event in Houston, Texas, on August 19, 2026, followed by the opening of prequalification on August 28.
The government hopes the initiative will attract additional exploration investment and move Liberia closer to a commercial petroleum discovery.
Interested companies can obtain further information through the LPRA website at https://lpra.gov.lr/liberia-2026-licensing-round/ or by emailing lpra2026submission@lpra.gov.lr.
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