At a Glance
- TotalEnergies secures four offshore oil permits in Liberia, boosting West Africa presence.
- Liberia eyes oil revival to attract foreign investment and reduce fuel dependence.
- Deal underscores oil majors’ push for reserves amid energy transition pressures.
TotalEnergies, a global integrated energy company, has deepened its presence in West Africa after securing four offshore exploration permits in Liberia, marking the country’s most significant oil development step in years.
The deal highlights both Liberia’s hopes of reviving its underdeveloped energy sector and the global push by oil majors to secure new reserves.
The French company signed production-sharing contracts with Liberia’s government for blocks LB-6, LB-11, LB-17, and LB-29, covering about 12,700 square kilometers (4,900 square miles) in the Liberia Basin.
The agreement comes at a time when global energy firms are weighing long-term fossil fuel demand against the growing shift to renewables.
Liberia seeks an oil comeback
Liberia, still rebuilding its economy two decades after a civil war, has passed new petroleum laws in recent years to attract foreign investment. But exploration efforts have been limited, and the absence of refining infrastructure has left the country reliant on imported fuel.
“TotalEnergies is enthusiastic to be part of the resumption of exploration activities in offshore Liberia,” said Kevin McLachlan, senior vice president of exploration at TotalEnergies. “Entering these blocks aligns with our strategy of diversifying our portfolio in high-potential basins.”
Liberia has 29 offshore exploration blocks in total. Interest from global oil companies has been sporadic, with ExxonMobil filing last year to pre-qualify for four blocks, potentially setting the stage for competition should viable reserves be found.
Global energy firms weigh risks and rewards
Analysts say a commercial discovery could bring economic relief to Liberia, where oil revenues might strengthen government finances and create new jobs.
For now, TotalEnergies’ commitment signals confidence in the region’s potential and underscores Africa’s role in the broader search for untapped oil and gas.
As global energy companies balance supply security with climate commitments, frontier markets like Liberia remain part of the equation—holding out both promise and uncertainty.
