Pres. Boakai Hails Landmark Agreements with TotalEnergies; Commits to Signing and Transmitting to Legislature

President Joseph Nyuma Boakai, Sr., on Tuesday, September 16, 2025 welcomed the landmark signing of Production Sharing Contracts (PSCs) between the Liberia Petroleum Regulatory Authority (LPRA) and TotalEnergies, covering four (4) offshore blocks in the Liberian Basin.

 Once ratified by the National Legislature and signed by the President, these agreements will mark the end of a decade-long pause in Liberia’s offshore oil and gas sector and signal the country’s re-entry into the global petroleum landscape. “In 2024, I invited world-class energy companies to Liberia and pledged that under my leadership, the country would provide an environment where investment flourishes—anchored in ethics, the rule of law, international best practices, and strict enforcement of contracts to protect all stakeholders,” President Boakai said. He added, “The execution of these agreements with TotalEnergies demonstrates that this pledge is bearing fruit.” 

The President expressed full confidence in the interagency negotiation team led by the LPRA, and confirmed his Administration’s readiness to sign the agreements and transmit them to the National Legislature for due public scrutiny and ratification. President Boakai commended the LPRA for its leadership, and acknowledged the contributions of the Ministry of Finance and Development Planning, the Ministry of Justice, the Ministry of Mines and Energy, the National Oil Company of Liberia (NOCAL), and his Special Presidential Committee on Oil & Gas. 

He stressed that their collective efforts ensured a transparent, rules-based process that successfully attracted a world-class operator with deepwater expertise, strong financial capacity, and a proven record of responsible operations. Looking ahead, President Boakai expressed his Administration’s commitment to ensuring that, following ratification and signing, exploration under these contracts proceeds according to the highest standards of safety, environmental stewardship, local content development, and transparent revenue management. 

“Our natural resources must deliver durable value for the Liberian people,” the President emphasized. “These agreements, when properly managed, will not only strengthen Liberia’s economy but also create jobs, build skills, and open opportunities that will benefit generations to come,” he concluded.