TotalEnergies SE has signed production sharing contracts (PSCs) for four adjoining exploration blocks spanning about 12,700 square kilometers (4,903.49 square miles) in Liberian waters.
LB-6, LB-11, LB-17 and LB-29, awarded under Liberia’s 2024 Direct Negotiation Licensing Round, mark the first upstream hydrocarbon agreements signed by the West African country in over a decade, according to the Liberian Petroleum Regulatory Authority (LPRA).
“The work program includes acquiring one firm 3D seismic survey”, the French global energy giant said in a statement on its website.
“TotalEnergies is enthusiastic to be part of the resumption of exploration activities in offshore Liberia”, commented Kevin McLachlan, senior vice president for exploration at TotalEnergies. “Entering these blocks aligns with our strategy of diversifying our exploration portfolio in high-potential new oil-prone basins.
“These areas hold significant potential for prospects that have the potential for large-scale discoveries that lead to cost-effective, low-emission developments, leveraging the company’s proven expertise in deepwater operations”.
The LPRA said in a separate statement online, “The signing of the PSCs represents one of the most important foreign investments in Liberia’s oil and gas sector in more than a decade”.
“As one of the world’s largest integrated energy companies, with a proven track record in deepwater exploration across Africa and globally, TotalEnergies’ entry into Liberia signals renewed international confidence in the country’s hydrocarbon potential”, the LPRA added.
LPRA director-general Marilyn T. Logan said the contract signing in Paris “stands as a vote of confidence in the reforms we have undertaken to attract responsible operators”.
The LPRA added, “The contracts incorporate environmental and social safeguards, transparent revenue management provisions and robust local content requirements, ensuring Liberians benefit directly from sector growth”.
Earlier this month TotalEnergies announced new offshore exploration licenses in two other African countries: two in Nigeria and one in the Republic of the Congo.
The Nzombo exploration license sits 100 kilometers (62.14 miles) off the coast of Pointe-Noire, near the Moho production facilities operated by TotalEnergies EP Congo. The block spans 1,000 square kilometers (386.1 square miles), according to TotalEnergies.
“The work program includes the drilling of one exploration well, which is expected to spud before the end of 2025”, TotalEnergies said September 1.
“This award of a promising exploration permit, with the material Nzombo prospect, reflects our continued strategy of expanding our exploration portfolio with high-impact prospects, which can be developed leveraging our existing facilities, and confirms our longstanding partnership with the Republic of the Congo”, said McLachlan.
TotalEnergies is operator with a 50 percent stake. QatarEnergy and national oil company SNPC own 35 percent and 15 percent respectively.
In Nigeria, TotalEnergies and local player South Atlantic Petroleum Ltd (SAPETRO) signed a PSC containing PPLs 2000 and 2001, TotalEnergies said September 2. The West African country awarded the permits under its 2024 exploration bidding. TotalEnergies is operator with an 80 percent stake while SAPETRO owns 20 percent.
Located in the “prolific” West Delta basin, the two permits cover about 2,000 square kilometers, TotalEnergies said.
“The work program includes drilling one firm exploration well”, it said.
“TotalEnergies is honored to be the first international company to be awarded exploration licenses in a bid round in Nigeria in more than a decade, marking a new milestone in our long-term partnership with the country”, said McLachlan.
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