TotalEnergies signs agreement for oil exploration blocks offshore Liberia

TotalEnergies has signed four production sharing contracts (PSC) for blocks offshore Liberia.

The work program for the exploration blocks, which were awarded following the 2024 Direct Negotiation Licensing Round organized by the Liberia Petroleum Regulatory Agency, includes acquisition of one firm 3D seismic study, the operator said in a release Sept. 17.

The PSCs are Liberia’s first upstream petroleum agreements in more than 10 years, the regulator said in a separate release. 

Blocks LB-6, LB-11, LB-17 and LB-29, which together cover an area of about 12,700 sq km, lie south of the Liberia basin.

Entering the blocks aligns with the operator’s strategy to diversify its exploration portfolio in high-potential new oil-prone basins, said Kevin McLachlan, senior vice-president, exploration, TotalEnergies.