TotalEnergies has signed four Production Sharing Contracts (PSC) for exploration blocks LB-6, LB-11, LB-17, and LB-29 located in the deep waters of Liberia’s southern basin. These blocks, awarded following the 2024 Direct Negotiation Licensing Round organised by the Liberia Petroleum Regulatory Agency, cover a total area of approximately 12,700 square kilometres.
Initial phase includes seismic surveys
The initial work programme includes the acquisition of three-dimensional (3D) seismic data to assess the geological potential of the targeted blocks. This preliminary phase aims to identify structures likely to contain hydrocarbons, a necessary condition before any future exploratory drilling.
Kevin McLachlan, Senior Vice President Exploration at TotalEnergies, stated that “entry into these blocks aligns with our strategy to diversify our exploration portfolio toward new high-potential oil basins,” highlighting the company’s intent to target low-cost resources in high-value environments.
Strengthened position in West Africa
TotalEnergies, already active in several countries across the region, is continuing its focused expansion in deepwater assets. The company has developed recognised expertise in this domain through similar projects in Angola, Nigeria, and the Republic of the Congo.
The awarded blocks represent a strategic opportunity for Liberia, which is aiming to revive international investor interest after several years of stagnation in the oil sector. The contracts also include obligations related to local content, which could generate economic benefits for the country.
Revival of Liberia’s oil prospects
The signing of these PSCs marks a turning point for the Liberian energy sector. The outcome of the seismic survey will determine the potential transition to the drilling phase, depending on the analysis of the geological structures identified.
This initiative could also spark renewed interest from other operators, reinforcing exploration momentum in this underdeveloped basin. The next steps will depend on the interpretation of seismic data and the technical conditions necessary for future development.
