Liberia Signs First Oil Exploration Contract with Arthur Eze’s Atlas Oranto Petroleum

 

 

 

Abubakar Hashim/ Monrovia

Liberia is heading to compete in West Africa’s oil landscape, with the signing of 4 Production Sharing Contracts (PSCs), by the Liberia Petroleum Regulatory Authority LPRA with Atlas Oranto Petroleum International Limited AOPI, on Monday, 22 September 2025, in Monrovia.

The contract agreement, facilitated under the Petroleum (Exploration and Production) law of Liberia, is different from other signed exploratory contracts in other countries, as it takes into cognisance environmental and social safeguards, transparent fiscal and revenue sharing mechanisms, with robust local content requirements, designed for the benefit of the sector in its value chain.

The deal, now for ratification by the legislature and ultimate approval by President Boakai, is the first upstream oil deal Liberia has signed in almost 10 years of inactivity.

LPRA DG, Marilyn Logan, signed on behalf of her government, with Prince Arthur Eze, CEO, Atlas Oranto Petroleum International, signed on behalf of his company.

The deal is a transformative step in the oil sector in Liberia, long eyed, but inactive, now revamped, as a potential driver of economic growth.

Exploration was stalled in the past due to a messy wave of global oil price volatility, political instability, and natural disasters.

The $15 million signature bonus is a fiscal boost to Liberia’s revenue space, but the long-term benefits are immense, as the deal is a major turning point for the Liberian economy.

The Liberian economy has been widely dominated by traditional exports of iron ore, rubber, cocoa, coffee, gold, diamonds, and other products.

CEO, Atlas Oranto, Arthur Eze, revealed to TheNEWS magazine that the deal is a partnership, rather than an investment.

LPRA DG, Marilyn Logan, on her part, remarked that the signed contract is a holistic drive, designed for Liberians to benefit, through employment opportunities, while also a win-win investment between the two parties.

President Boakai, since assuming power in 2023, has placed a premium on a private sector-led development strategy to revamp Liberia’s economy