Africa-Press – Liberia. By Seltue Karweaye Sr.
On September 22, 2025, President Joseph Nyuma Boakai, Sr. announced the signing of four Production Sharing Contracts (PSCs) between the Liberia Petroleum Regulatory Authority (LPRA) and Atlas/Oranto Petroleum. These contracts grant exploratory rights over offshore oil blocks LB-15, LB-16, LB-22, and LB-24, believed to hold significant untapped reserves.
The Executive Mansion noted a $12 million signature bonus, expected to benefit the national treasury, and each block is projected to attract around $200 million in investment, signaling potential economic growth and job creation in Liberia.
Despite this, many Liberians express concern over the agreement due to Atlas/Oranto’s past allegations of bribery and corruption in Liberia. This historical context raises questions about the transparency and integrity of the contract negotiations, leading to fears about the possible implications for Liberia’s natural resources and the well-being of its citizens.
Atlas/Oranto Petroleum First Production Sharing Contracts (PSCs)
Atlas/Oranto Petroleum, owned by Nigerian businessman Prince Arthur Eze and incorporated in the British Virgin Islands, has a significant presence in Liberia. In 2006, the National Oil Company of Liberia (NOCAL) signed Production Sharing Contracts (PSCs) with Oranto Petroleum for offshore blocks LB-11 and LB-12. These contracts granted exclusive exploitation rights for 25 years, with an additional 8 years allowed for exploration. Oranto was required to fund social programs, support training initiatives, submit environmental impact statements, share production costs, and adhere to a 35% income tax. The PSCs were ratified by the National Legislature on April 16, 2007. In 2009, NOCAL presented another PSC for offshore block LB-14, which the National Legislature approved on July 23. This agreement granted Atlas/Oranto Petroleum exclusive rights for a total of 34 years—9 years for exploration and 25 years for exploitation.
Atlas/Oranto Petroleum, NOCAL and Corruption
A detailed report by John S. Morlu II, the Auditor General of the Liberian General Auditing Commission (GAC), has uncovered alarming allegations of corruption involving approximately $120,000 in bribes aimed at securing legislative approval for offshore oil concessions. These illicit payments were reportedly made to facilitate access for two small firms, including Oranto Petroleum Limited, to four lucrative offshore oil blocks designated as LB-11, LB-12, LB-14, and LB-15, which are situated in highly prospective areas for oil exploration.
The GAC’s findings were substantiated by an independent investigation conducted by Global Witness, a reputable London-based watchdog organization recognized for its efforts to combat corruption in natural resource management. Their inquiry revealed that Oranto, in collaboration with the National Oil Company of Liberia (NOCAL), had paid over $120,000 to influential members of Liberia’s legislature in an effort to accelerate the approval process for oil contracts.
Once the legislative green light was obtained, Oranto proceeded to sell these concessions to Chevron, a major international oil and gas company, for an astonishing $150 million. Reports indicate that the final sale price could ultimately escalate to around $250 million, reflecting the high value of the offshore reserves. Prince Arthur Eze, a prominent figure in this transaction, is reported to have made significant profits, having initially invested just $10,000 per block, alongside an additional $200,000 in fees associated with securing the concessions. Notably, despite the substantial financial gains, Oranto did not allocate any funds towards social programs or training initiatives that might benefit local communities impacted by the oil extraction activities.
Following her re-election in November 2011, President Ellen Johnson Sirleaf made the controversial decision not to re-nominate Auditor General Morlu for his position. This decision has raised substantial concerns regarding the government’s ongoing commitment to transparency, oversight, and accountability within Liberia’s oil sector, particularly in light of the serious allegations of corruption that have emerged.
Chevron launched its exploratory program in late 2012, drilling two ambitious wells named Nighthawk and Carmine Deep. However, in a significant turn of events, the Italian company Eni acquired Chevron’s stake in the deepwater blocks within the same year, effectively concluding Chevron’s participation in this venture. By 2016, with the expiration of its contract for these blocks, Chevron’s role in the Liberian oil sector came to a definitive end.
Atlas/Oranto Petroleum Second Coming
In November 2024, Prince Arthur Eze visited Liberia and met with President Joseph Boakai and other officials. Although there was speculation about him seeking exploratory rights for oil blocks, Eze’s friend, former NOCAL CEO Christopher Neyor, clarified that this was not the primary purpose of the visit. Neyor mentioned that Eze’s interest in Liberia’s resources stemmed from a personal request.
On September 22, 2025, President Boakai announced the signing of Production Sharing Contracts (PSCs) with Atlas/Oranto Petroleum, granting exploratory rights over several offshore blocks, including LB-15, LB-16, LB-22, and LB-24. This represents a significant step in developing Liberia’s natural resources.
Formation of the Liberia Petroleum Regulatory Authority (LPRA)
In 2013, following the Oranto Petroleum Limited and Chevron scandal, ExxonMobil, a major player in the global oil industry, entered into a significant agreement with the Liberian government. This $120 million deal involved the acquisition of Liberia’s Block 13, which had originally been awarded to a company called Broadway Consolidated/Peppercoast (BCP) by the National Oil Company of Liberia (NOCAL) in 2005. The award was ratified by the Liberian legislature in 2007.
BCP was a Liberian-Anglo company believed to be owned by Jonathan Mason and Mulbah Willie, both of whom served as Mining Ministers in 2005. A 2018 Global Witness report revealed that these Liberian government officials illegally granted themselves the oil license while in office, despite Liberian law prohibiting state officials from owning oil licenses. A subsequent audit by the Liberian government uncovered that illegal bribes had been paid by NOCAL to Liberian legislators to secure the ratification of Block 13 for BCP in 2007.
According to the Global Witness investigation, ExxonMobil was aware that the ratification in 2007 was facilitated by these bribes, which the company referred to as “payments,” and they suspected that former Liberian officials likely had ownership of the block. Additionally, over $200,000 in unusually large payments were made by the corrupt Liberian oil agency to six key government officials, all of whom played crucial roles in approving the contract. The officials included Finance Minister Amara Konneh, who is currently serving as a senator; Justice Minister Christiana Tah; Mining Minister Patrick Sendolo; National Investment Commission Chairman Natty Davis; NOCAL CEO Randolph McClain; and NOCAL Board Chair Robert Sirleaf, who is notably the son of Ellen Johnson Sirleaf, the then-President of Liberia.
ExxonMobil exited Liberia’s Block 13 in 2017 after unsuccessful exploration. In 2023, the company returned and applied to explore four new deepwater blocks—15, 16, 22, and 24—contracted to Atlas/Oranto Petroleum by the Liberia Petroleum Regulatory Authority (LPRA).
In response to corruption scandals affecting Liberia’s oil sector, Ellen Johnson Sirleaf ‘ led government established the Liberia Petroleum Regulatory Authority (LPRA) to restore integrity in the Liberian oil sector.. Created under the 2014 Petroleum Exploration and Production Law, the LPRA regulates upstream activities related to crude oil and natural gas.
The LPRA also oversees licensing, enforces environmental standards, and aims to foster foreign investment by creating a transparent climate for responsible exploration. However, despite concerns, the LPRA signed a Production Sharing Contract with Atlas/Oranto Petroleum—a company associated with corruption in Liberia and engaged in these production-sharing contracts primarily to position itself as an intermediary, capitalizing on the provisions of the PSCs, which permitted them to transfer exploration rights to major international oil corporations. This arrangement allowed the company to generate substantial profits, often reaching into the millions, while the people of Liberia are left with minimal returns from their own assets.
Legislative Scrutiny of Atlas/Oranto Petroleum’s Second Production Sharing Contracts
It is crucial for our national legislature to conduct a comprehensive and meticulous investigation into the granting process of exploratory rights for the offshore oil blocks LB-15, LB-16, LB-22, and LB-24 to Atlas/Oranto Petroleum. This critical examination must occur prior to any ratification of these contracts by the legislature. The urgency for such scrutiny is amplified by the recent bribery scandal involving the company, which casts serious doubt on the transparency, ethical standards, and integrity of its earlier Production Sharing Contracts (PSCs) for blocks LB-11, LB-12, and LB-14.
It is essential to understand that Oranto Petroleum Limited’s involvement in these production-sharing contracts reflected a deliberate strategy to establish itself as an intermediary or middleman. By leveraging the provisions within the PSCs that allowed the transfer of exploration rights to prominent international oil corporations, the company secured substantial profits—often amounting to millions of dollars—while the people of Liberia witnessed only a fraction of these resources benefiting their lives and communities.
As we move forward, it is crucial that we categorically reject such exploitative practices. Our emphasis must shift away from short-term financial gains towards fostering an environment that prioritizes responsible management of natural resources and sustainable economic development for Liberia. This reorientation requires us to demand stringent and uncompromising accountability from all companies operating within our borders. We must ensure that our nation’s invaluable natural resources are not merely exploited for profit, but are instead harnessed to uplift the livelihoods of all Liberians equitably.
In this pivotal moment, let us unite in our commitment to safeguard our nation’s future. We must advocate for policies that emphasize ethical business practices, transparent governance, and the equitable distribution of wealth derived from our natural resources, ensuring that the prosperity generated serves the interests of every Liberian citizen. I rest my pen.
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