CAPE TOWN, South Africa — Liberia has officially opened 15 offshore oil exploration blocks to international petroleum companies, launching a new licensing round aimed at attracting investment and accelerating exploration of the country’s offshore petroleum resources.
The 2026 Offshore Direct Negotiation Licensing Round was launched on Wednesday, October 14, at African Energy Week in Cape Town, South Africa, by the Liberia Petroleum Regulatory Authority (LPRA), bringing together senior government officials, international oil companies and industry representatives.
The offering covers 12 blocks in the Liberia Basin and three in the Harper Basin. Interested companies are being invited to participate in the process which is scheduled to close on April 15, 2027.
In a video message, H.E. President Joseph Nyuma Boakai, President of Liberia, reaffirmed his administration commitment to attracting credible investment transparently and ethically. Boakai assured investors of contractual certainty, emphasizing that Liberia’s laws are clear and enforceable and that agreed terms would remain valid “today and in the future.” However, he stressed that investment agreements must be mutually beneficial. “No agreement is worth signing unless it works for all parties to it,” the President stated.
Reaffirming his administration’s backing for the licensing round, Boakai 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.”
LPRA Urges International Companies to Explore Liberia’s Petroleum Potential
Speaking at the official launch, LPRA Director General Marilyn T. Logan expressed confidence in Liberia’s offshore petroleum potential and encouraged qualified international oil companies to take advantage of the investment opportunities presented by the new licensing round.
“Our petroleum system works,” Logan declared, urging interested companies 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 also underscored the LPRA’s “Explore or Release” principle: companies granted offshore blocks must meet their agreed exploration commitments or relinquish acreage in accordance with their contracts and applicable law. The approach is intended to discourage speculative holding of blocks and keep opportunities open to companies prepared to explore.
The 15 blocks being offered 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.
The licensing round is supported by extensive geological and geophysical information, including 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 improve subsurface imaging and assist prospective investors in assessing Liberia’s offshore exploration prospects.
Industry geoscience specialist Jason Robinson, Managing Director of ENARJI, said geological evidence indicates the presence of a working petroleum system offshore Liberia, with significant deepwater exploration opportunities along the Atlantic margin.
LPRA Assures Investors of Predictable Fiscal Terms
Under the direct negotiation framework, companies interested in the offshore blocks must demonstrate the financial strength, technical competence and relevant offshore exploration experience required to undertake petroleum operations. Qualified companies may subsequently negotiate block-specific exploration programs and contractual arrangements in accordance with Liberia’s 2014 Petroleum Exploration and Production Act, as amended in 2019.
LPRA Deputy Director General for Finance Robert Sonkarlay assured investors that Liberia’s fiscal framework was designed to provide competitive terms while maintaining the predictability necessary for long-term petroleum investment.
“Investors are not just looking to find attractive fiscal terms; they’re also looking for fiscal predictability,” Sonkarlay said, emphasizing that Liberia’s terms are benchmarked against international industry practices.
LPRA Board Member Cllr. Kou Dorliae also highlighted the Authority’s commitment to investor engagement and regulatory predictability, noting that prequalification remains valid for five years, allowing eligible companies to pursue investment opportunities within that period.
The new licensing round follows Liberia’s successful conclusion of eight petroleum production-sharing contracts with TotalEnergies and Atlas Oranto Petroleum in 2025, marking an important step in renewed international interest in the country’s offshore petroleum sector.
Preparations for the 2026 round included an investor engagement event in Houston, Texas, on August 19, followed by the opening of the prequalification process on August 28.
With the latest offering, Liberia is seeking to build on that momentum, attract additional exploration investment and advance its efforts toward a commercial petroleum discovery.
Interested companies can obtain further information on the licensing round, available offshore blocks and prequalification requirements through the LPRA website at https://lpra.gov.lr/liberia-2026-licensing-round/ or by emailing lpra2026submission@lpra.gov.lr.