Liberia will launch its new round of offshore exploration licenses on October 14, 2026, by offering 29 blocks in the Liberia and Harper basins. This initiative aims to attract new investments in the oil and gas exploration sector.
Details of the Exploration Blocks
The government of Liberia has provided over 50,000 kilometers of 2D seismic data and over 31,000 square kilometers of 3D seismic data to support this round. This data helps companies make accurate assessments of the exploration potential of these blocks.
Pre-qualifying Process and Company Evaluation
Pre-qualifying for this round began on August 28, 2023, following an investment event in Houston. Companies can submit their applications by meeting technical and financial criteria. The blocks include Cretaceous structures, deepwater basin floor fans, and structural closures.
Liberia's offshore oil system has geological features similar to other areas along the Atlantic margin, including the neighboring country, Côte d'Ivoire, where recent discoveries have increased industry interest in the region.
The company TGS has also processed 12,000 kilometers of 2D seismic data using pre-stack depth migration and provided 5,100 square kilometers of 3D data from a larger volume of 26,000 square kilometers. Additional datasets including gravity, magnetics, well logs, and multi-client data are also available for block evaluation.
International companies such as TotalEnergies and Atlas Oranto Petroleum currently have interests in various offshore blocks in Liberia. Additionally, recent activities around block LB-32 in the Harper basin have been noted. The Australian company Bounty Oil & Gas reached an agreement in September to acquire PetroQuest Liberia Deep Water.
The licensing model allows Liberia to engage in direct negotiations, enabling qualified companies to seek individual technical and commercial opportunities. Applicant evaluations are based on financial strength, technical capabilities, and offshore experience.
This licensing round is organized by Energy Capital & Power along with LPRA, and the pre-qualifying validity lasts for five years, allowing qualified companies to participate in available offshore opportunities.
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