Nigeria’s Atlas-Oranto Petroleum has been awarded the rights to four exploration blocks offshore Liberia. This happened just days after TotalEnergies secured four offshore blocks in the Liberia basin. ExxonMobil also returned to the country in 2023 when it picked up four exploration blocks.
Liberian President Joseph Nyuma Boakai welcomed the signing of four production sharing contracts (PSCs) between the Liberia Petroleum Regulatory Authority and Atlas-Oranto. These contracts cover blocks LB-15, LB-16, LB-22, and LB-24.
The agreement signed in Paris includes a signature bonus of $12 million. It also has an estimated investment value of $200 million per block. The four PSCs will now be forwarded to the national legislature in Monrovia for ratification.
The recent developments are an important step in reviving Liberia’s oil and gas sector. This comes after more than a decade of limited activity.
“Our goal is to ensure Liberia’s resources are managed with transparency and responsibility. These contracts will be implemented with strict standards of environmental protection. We will also ensure strong local participation and clear accountability, so that Liberians benefit directly from the opportunities created,” Boakai said.
Atlas-Oranto Petroleum
Atlas-Oranto Petroleum, also known as Atlas & Oranto was founded in 1991 by Nigerian businessman Prince Arthur Eze. The group is made up of Atlas Petroleum International and Oranto Petroleum, and they operate jointly across multiple African markets.
Atlas-Oranto holds 22 oil and gas licenses in 12 jurisdictions, with producing assets in Nigeria and Equatorial Guinea, as well as exploration and development projects in Uganda, South Sudan, Senegal, São Tomé & Príncipe, and Zambia, among others.
Atlas-Oranto has continued to play a central role in Africa’s energy landscape, positioning itself as a leading indigenous player driving oil exploration while increasingly focusing on natural gas as part of the continent’s energy future.
