• Atlas-Oranto Petroleum obtained four offshore exploration blocks in Liberia, paying a $12 million signature bonus.

• The company plans seismic surveys and preliminary development studies as part of its exploration program.

• Liberia is stepping up oil exploration after repeated failures to find commercially viable hydrocarbon reserves.

Liberia awarded four offshore oil exploration blocks to Nigeria’s Atlas-Oranto Petroleum as part of efforts to revive its energy sector, the government confirmed on September 24.

The deal includes a $12 million signature bonus, signaling Atlas-Oranto’s expansion beyond its home market into West Africa’s underexplored basins. The company’s program will feature seismic surveys—either 2D or 3D, details were not disclosed—and early-stage development planning.

Atlas-Oranto’s move reflects a broader trend of Nigerian independents extending operations across Africa. In July, FIRST E&P signed an agreement to assess Tanzania’s Mnazi Bay North gas block. Waltersmith Petroman Oil Limited also entered Equatorial Guinea in 2019 with a 40% stake in offshore block EG-23.

By securing acreage in Liberia, Atlas-Oranto joins international players such as TotalEnergies that have previously sought opportunities offshore the country.

Liberia has long struggled to attract successful exploration despite its licensing rounds. Experts note that the global success rate for exploration drilling hovers around 30%, according to data provider Westwood Global Energy.

Analysts say the outcome of Atlas-Oranto’s seismic work and future drilling will determine whether Liberia can translate exploration momentum into commercial production.

This article was initially published in French by Abdel-Latif Boureima

Adapted in English by Ange Jason Quenum