Nigerian businessman Arthur Eze has expanded his oil and gas footprint into Liberia after his company, Atlas Oranto Petroleum Limited, secured rights to four offshore exploration blocks in the Liberian Basin.
The move marks Liberia’s first major upstream oil deal in more than a decade and is expected to inject billions into the country’s underdeveloped energy sector, according to Business Insider Africa.
The Liberia Petroleum Regulatory Authority (LPRA) signed four Production Sharing Contracts (PSCs) with Atlas Oranto last week in Paris.
The agreements, which include a $12 million signature bonus, cover Blocks LB-15, LB-16, LB-22, and LB-24.
Once ratified by Liberia’s legislature and approved by President Joseph N. Boakai, the contracts will unlock planned investments of over $200 million per block, bringing both capital and technical expertise to the West African nation.
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LPRA Director General Marilyn T. Logan hailed the agreement as a “turning point” for Liberia’s petroleum sector, saying it would foster job creation, capacity building, and the transfer of technological skills.
“Atlas Oranto’s entry into Liberia is a testament to the country’s hydrocarbon potential and commitment to ensuring African companies play a leading role in our upstream programme,” she noted.
Prince Arthur Eze, Executive Chairman of Atlas Oranto, described the deal as a long-term partnership.
“We are proud to join Liberia at this historic moment. We see Liberia not just as an investment destination but as a partner for success,” he said.
Liberia’s President Boakai also emphasized the government’s commitment to transparency, environmental protection, and local participation, stressing that the contracts will be implemented in a way that ensures Liberians directly benefit from the opportunities created.
Atlas Oranto, one of Africa’s largest privately-owned oil and gas companies, already operates in 22 countries, including Equatorial Guinea, Senegal, South Sudan, Uganda, São Tomé and Príncipe, and Zambia.
Eze previously made a profitable entry into Liberia in 2010, when he acquired three oil blocks for $200,000 each and later sold them to Chevron for more than $250 million.
This new $800 million commitment is seen as part of Eze’s broader strategy to strengthen Atlas Oranto’s position across Africa and expand into frontier energy markets.
Image Credit: BBC
