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TotalEnergies Signs Production Sharing Contracts (PSCs) for Liberian Oil Blocks, Signaling Exploration Resurgence in West Africa

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African Energy Chamber

The Production Sharing Contracts align with the government’s commitment to monetizing offshore oil and gas resources

JOHANNESBURG, South Africa, September 18, 2025/APO Group/ –In a move set to accelerate offshore oil and gas development in the country, energy major TotalEnergies has signed four Production Sharing Contracts (PSC) for exploration blocks in Liberia. Awarded to the company following the conclusion of Liberia’s 2024 Direct Negotiation Licensing Round, the PSCs cover Block LB-6, Block LB-11, Block LB-17 and Block LB-29, all of which are situated in the south of the Liberia basin. The PSCs align with the government’s commitment to monetize offshore hydrocarbon resources and is expected to pave the way for future discoveries.

The African Energy Chamber (AEC) – representing the voice of the African energy sector – views the signing of the PSCs as a direct result of the proactive approach by the Liberian government to attracting new investment across the country’s offshore hydrocarbon market. Through the 2024 licensing round, the government sought to engage global investors and accelerate exploration. The PSCs not only serve as a key step towards realizing this goal but bring significant expertise to the market through the likes of TotalEnergies. As such, the AEC also commends TotalEnergies for its continued commitment to investing in African exploration and production, and views this milestone as a key step towards unlocking new resources in West Africa.

The signing of these PSCs marks more than just a corporate milestone – it represents Liberia’s resurgence as a competitive frontier for oil and gas investment

The signed PSCs cover acreage of approximately 12,700 km². According to TotalEnergies, the blocks are situated in high-potential new oil-prone basins, with the areas holding significant potential for large-scale discoveries that lead to cost-effective, low-emission developments. Part of the upcoming work program, TotalEnergies will acquire one firm 3D seismic survey, which is expected to enhance the geological understanding of the blocks. The Liberia Basin – alongside the corresponding Harper Basin – are already supported by a substantial set of seismic data thanks to a partnership between the government and energy data firm TGS. TGS was tasked with acquiring an extensive suite of multi-client subsurface data, including over 24,000 km² of 2D and more than 26,000 km² of 3D data. This data will aid TotalEnergies and other companies as they advance exploration activities.

Largely under-explored, Liberia represents a promising market given the country’s long-held oil and gas potential. Located in the syn-rift Lower Cretaceous to deepwater Upper Cretaceous geological layers, the blocks offer a variety of source rock intervals across the stratigraphy. Coupled with the high-quality seismic data available, this provides a comprehensive geological understanding of the acreage, thereby supporting exploration and future discoveries. The PSCs come as Liberia implements a bold strategy to attract upstream investment. Prior to the 2024 licensing round, the country introduced amendments to the Exploration & Production Law in 2019, aimed at establishing a transparent and competitive process. Terms included a 100% cost-recovery on pre-PSC seismic data, further adding to the attractiveness of the licensing round.

The 2024 licensing round sought to unlock this potential by attracting new players to invest in exploration blocks. The round featured 29 blocks across the Liberia and Harper Basins, offering opportunities for both international oil companies with the technical and financial capacity to develop offshore fields as well as smaller players and independents seeking forays into marginal fields. With both shallow water and deepwater acreage on offer, the round reflects the strong drive by the government to engage a diverse slate of investors and drive oil and gas projects forward. The signed PSCs signal the confidence that international companies have in Liberia’s frontier oil and gas opportunities.

“The signing of these PSCs marks more than just a corporate milestone – it represents Liberia’s resurgence as a competitive frontier for oil and gas investment. TotalEnergies’ expertise, combined with the government’s proactive reforms, sets the stage for new discoveries, job creation and sustainable development. This moment underscores the importance of African nations driving exploration and unlocking their own resources, ensuring that energy security, prosperity and opportunity are realized by Liberians and by the wider West African region,” states NJ Ayuk, Executive Chairman, AEC.

Distributed by APO Group on behalf of African Energy Chamber.

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Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

Distributed by APO Group on behalf of Energy Capital & Power.

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

Distributed by APO Group on behalf of Energy Capital & Power.

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