MONROVIA, LIBERIA-The Chief Executive Officer of the National Oil Company of Liberia says the recent signing of Production Sharing Contracts between the Liberia Petroleum Regulatory Authority and Total Energies is the first step towards discovery.

Fabian Lai believes the contract, which will cover four offshore blocks within the Harper belt, to boost the oil and gas sector of the Country, paving the way for bigger investment opportunities.

Speaking on the Super Morning Show on Wednesday, September 17, 2025, the NOCAL Head said,” It has been nearly ten years since Liberia signed a petroleum agreement on the offshore basin, and the country’s offshore basin has not been functional for twelve years”.

Lai said the Production sharing contracts between the Liberia Petroleum Regulatory Authority and Total Energies are commendable, noting that Total is among the six leading Oil Companies globally.

The NOCAL Boss disclosed that there is a high potential for oil exploration within the Liberian basin.

By: Naketa Roberts