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Nigerian billionaire Prince Arthur Eze has reignited Liberia’s dormant energy sector by securing four offshore oil exploration blocks through his company, Atlas Oranto Petroleum Limited. The landmark moves marks Liberia’s first major upstream oil deal in over a decade.
The Liberia Petroleum Regulatory Authority (LPRA) and Atlas Oranto signed four Production Sharing Contracts (PSCs) during a ceremony in Paris. The contracts—covering offshore blocks LB-15, LB-16, LB-22, and LB-24—fall under Liberia’s Petroleum (Exploration and Production) Law and await ratification by the National Legislature and approval by President Joseph N. Boakai.
The deal includes a USD 12 million signature bonus and outlines planned investments exceeding $200 million per block. LPRA Director General Marilyn T. Logan called the agreement a “turning point” for Liberia’s petroleum industry, emphasizing its potential to create jobs, build local capacity, and transfer critical technical expertise.
“Atlas Oranto’s entry into Liberia highlights both our hydrocarbon potential and our commitment to fostering African leadership in upstream oil development,” Logan said. Arthur Eze, Executive Chairman of Atlas Oranto—one of Africa’s largest privately owned oil and gas companies operating in 22 countries—reaffirmed the company’s long-term vision. “We are proud to join Liberia at this historic moment. This is more than an investment—it’s a strategic partnership,” Eze stated.
President Boakai, speaking at the Paris signing, emphasized that the agreements will be implemented with full transparency, strong environmental safeguards, and robust local participation.“This marks a new chapter for Liberia’s energy sector. Our goal is to ensure that these resources are managed responsibly and benefit all Liberians,” Boakai said.
Liberia’s oil exploration efforts have stalled for years due to political instability and fluctuating global oil prices. This new partnership with Atlas Oranto could help diversify Liberia’s economy, which has traditionally depended on iron ore, rubber, and gold.
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This isn’t Eze’s first foray into Liberia’s oil scene. In 2010, he was awarded three blocks for USD 200,000 each, which he later sold to Chevron for over USD 250 million—demonstrating his early success in West Africa’s energy market.
With these latest contracts, Atlas Oranto deepens its footprint across Africa and extends its reach into global frontier energy markets, positioning itself as a key player in the continent’s energy future.
