MONROVIA – Liberia has taken a major step back onto the global energy stage as President Joseph Nyuma Boakai welcomed landmark oil agreements with TotalEnergies, declaring them proof that the country is once again open for world-class investment.
The agreement which covers four offshore blocs in the Liberian Basin was signed between the Liberia Petroleum Regulatory Authority and TotalEnergies in Paris. They await President Boakai’s signature and subsequent ratification by the National Legislature, which will mark the end of more than ten years of inactivity in Liberia’s upstream petroleum sector.
For President Boakai, the development carries more than financial weight. It is the fulfilment of a promise he made in 2024 when he called on international energy companies to return to Liberia. At the time, he pledged to rebuild trust by offering investors an environment based on ethics, the rule of law, contract enforcement, and international standards. Standing before Liberians and global partners today, the President said the new production sharing contracts show that this pledge is already paying off.
“I invited world-class operators to Liberia because I wanted our country to be seen as a serious and responsible place to do business,” President Boakai said. “The signing of these agreements proves that confidence has returned and that Liberia can now compete on the global petroleum map.”
The President was keen to highlight the coordinated work of state institutions that negotiated the contracts. He commended the Liberia Petroleum Regulatory Authority under Director General Marilyn Logan 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, and his Special Presidential Committee on Oil and Gas. According to him, their collective effort guaranteed a transparent and rules-driven process that convinced one of the world’s strongest energy companies to take interest in Liberia’s deepwater basin.
President Boakai stressed that the agreements are not only about extracting oil but about transforming Liberia’s long-term prospects. He promised that once ratified, exploration will be carried out under strict safety rules, strong environmental safeguards, and transparent revenue management. He also underscored the importance of local content, insisting that Liberian workers and businesses must have a share in the opportunities created.
“Our natural resources must deliver durable value for the Liberian people,” the President said. “These agreements, when managed responsibly, will strengthen our economy and provide jobs, skills, and opportunities that will last for generations.”
The contracts with TotalEnergies are widely seen as a signal to the international community that Liberia is now a credible destination for large-scale investment. They are expected to bring in technical expertise, new technologies, and financial muscle that can lift not only the petroleum sector but also the country’s global reputation.
By embracing a transparent, reform-driven process, President Boakai’s administration has broken with a decade of stagnation in the sector. The deals suggest that Liberia has entered a new era where responsible governance and investor confidence work hand in hand to shape growth.
With the legislature set to review the agreements, the next steps will determine how soon exploration begins and how quickly Liberia feels the impact of this turning point. But already, the TotalEnergies deal stands as a landmark for President Boakai — a sign that under his watch, Liberia is becoming an investment magnet and an emerging player on the global energy map.
The deals cover offshore Blocks LB 6, LB 11, LB 17, and LB 29 in the Liberian Basin and stands as the largest foreign entry into Liberia’s oil and gas sector in more than ten years. Once endorsed by President Boakai and ratified by the Legislature, the contracts will clear the way for exploration work that could unlock vast hydrocarbon resources beneath Liberian waters.
The signing ceremony in Paris marks the start of exploration activities by TotalEnergies in Liberia’s offshore blocks. The company’s presence does not guarantee immediate production, as its initial work will focus on assessing the basin’s potential. Should the exploration uncover oil in commercial quantities, further approvals and additional drilling would be required before full-scale production can begin. This phased approach ensures that the process is guided by technical assessment and international best practices.
For Liberia, this is more than just an energy deal. It is a turning point. A few years ago, no such international oil company was willing to put money, technology, and reputation on the line for Liberia. Now, TotalEnergies has done so, and the message to the world is clear: Liberia is back on the investment map.
The Liberia Petroleum Regulatory Authority (LPRA), which oversaw the negotiations, described the move as the fruit of reforms aimed at restoring credibility in the sector. Marilyn T. Logan, Director General of LPRA, said at the signing of the agreements in Paris France, “The signing of these PSCs with TotalEnergies ends a decade-long pause on Liberia’s offshore petroleum program, marks a positive turning point in the country’s energy future, and stands as a vote of confidence in the reforms we have undertaken to attract responsible operators”. The Director General furthered that the partnership offers not only the potential for resource development but also concrete opportunities for local capacity building, knowledge transfer, and sustainable growth for Liberia.
She pointed to opportunities beyond oil, highlighting knowledge transfer, training for Liberians, and broader economic growth that such a partnership can generate.
TotalEnergies, which has led deepwater projects across Africa, made it clear why it chose Liberia at this moment. Kevin McLachlan, the company’s Senior Vice President for Exploration, explained that Liberia offers new grounds with strong prospects and that TotalEnergies sees potential for discoveries large enough to make energy production both affordable and low in emissions. The company will bring in cutting edge technology, international safety standards, and the kind of capital that can transform untapped fields into real wealth.
The contracts are not only about drilling for oil. They include commitments to protect the environment, manage revenues openly, and ensure that Liberians take part in the process through jobs and local content. These measures are designed to prevent the mistakes that have plagued resource-rich countries elsewhere and to make sure that growth touches ordinary people.
For Liberia’s international image, the significance cannot be overstated. The signing shows that a stable and reform-minded government can win the trust of world-class investors. It raises the country’s profile, not just in energy, but across sectors where investors watch for signals of political will and economic openness.
Once ratified, the agreements will trigger exploration programmes, bringing in fresh activity offshore and signalling that Liberia’s natural resources can at last be turned into opportunities for development.
President Boakai’s government has often spoken of turning Liberia into a trusted place for business. The TotalEnergies deal is the strongest evidence yet that these words are becoming reality. It marks a new era in which Liberia can attract global players, generate wealth, and present itself to the world as a country ready for serious investment and long-term growth.