By Christie U. Omonigho
Energy Window International (Media) TotalEnergies said it has signed Four Production Sharing Contracts (PSC) for the LB-6, LB-11, LB-17 and LB-29 Exploration blocks offshore Liberia, awarded following the 2024 Direct Negotiation Licensing Round organized by the Liberia Petroleum Regulatory Agency. The 2024 licensing round sought to unlock this potential by attracting new players to invest in exploration blocks. The round featured 29 blocks across the Liberia and Harper Basins, offering opportunities for both international oil companies with the technical and financial capacity to develop offshore fields as well as smaller players and independents seeking forays into marginal fields.
The blocks LB-6, LB-11, LB-17 and LB-29 are located in the south of the Liberia Basin covering an area of approximately 12,700 square kilometers according to the French oil major. The work program includes acquiring one firm 3D seismic survey, the Company said in an email statement to Energy Window International (Media).
“TotalEnergies is enthusiastic to be part of the resumption of exploration activities in offshore Liberia”, says Kevin McLachlan, Senior Vice-President Exploration at TotalEnergies. “Entering these blocks aligns with our strategy of diversifying our Exploration portfolio in high-potential new oil-prone basins. These areas hold significant potential for prospects that have the potential for large-scale discoveries that lead to cost-effective, low-emission developments, leveraging the Company’s proven expertise in deepwater operations”.
TotalEnergies has been rated as a global integrated energy company with bias for producing and marketing energies like oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. “Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable”.
Liberia is located in the syn-rift Lower Cretaceous to deepwater Upper Cretaceous geological layers. The country analysts say represents a potential energy market considering what many believe as the country’s long-held oil and gas potential even as the blocks are also believed to offer a variety of source rock intervals across the stratigraphy, and providing high-quality seismic data availability which also provides key for a comprehensive geological understanding of the field while supporting exploration and future discoveries. Analysts also believe that the PSCs were coming at an auspicious time in the country’s upstream development investment drive.