Marilyn Logan, the Director General of the Liberia Petroleum Regulatory Authority (LPRA), highlighted Liberia’s available oil and gas blocks and upstream investment opportunities at the Invest in African Energy (IAE) reception in London. The event successfully brought together global investors and industry leaders, underscoring the rising interest in Africa’s frontier markets, with Liberia emerging as a key destination for oil and gas exploration and investment. In her speech, the Director General emphasized the potential of Liberia’s
hydrocarbon resources. She named Liberia’s strategic position on the West Africa Transform Margin, which shares geological similarities with the commercially successful Jubilee field in Ghana and the Liza-1 field in Guyana. Major industry players such as ExxonMobil and Chevron have confirmed the presence of a working hydrocarbon system offshore Liberia and recent seismic surveys and data reprocessing indicate the promise of significant reserves in Liberia. “In addition to Liberia’s prospective hydrocarbon resources, the country offers a competitive fiscal regime, stable governance, zero tolerance for corruption, and a conducive operating environment,” Madam Logan stated. She also announced a newly established fee structure designed to incentivize and reward oil and gas investors with appropriate returns, while ensuring Liberia retains social and economic benefits from oil and gas extraction activities. The Liberian government, according to Madam Logan, has also implemented a robust oil and gas program to create a favorable environment for investments, featuring a streamlined regulatory process and a stable and democratic political climate. Liberia has planned an upcoming 2024 Licensing Round which features blocks in the Liberian and Harper Basins, extensively covered by both 2D and 3D seismic surveys. The Harper Basin offers both stratigraphic and structural traps, enhancing the likelihood of discovering significant hydrocarbon deposits. The license round is expected to attract major investors with the expertise and resources and offers incentives for early investors that ensure they yield substantial returns. NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC), also spoke at the event, acknowledging Liberia’s potential for discovery. “Many years ago, many thought Namibia was an oil man’s graveyard. Today, there are even more prospects in countries like Liberia. The belief coming out of [London] drove exploration in places like Namibia – Liberia could be a replica of that,” Ayuk stated.