Block LB-32 – Offshore Liberia

About the Permit

Offshore Liberia has more than 50 years of petroleum exploration history and is emerging as one of West Africa’s most compelling frontier deepwater opportunities. Multiple exploration wells have confirmed active petroleum systems, including the presence of Africa’s prolific OAE1 and OAE2 source rocks, with oil shows and light oil columns encountered in wells such as Narina-1, Mesurado-1, Montserrado-1, and Bee Eater-1.

Major companies including ExxonMobil, Chevron, Anadarko Petroleum, and Tullow Oil previously held acreage across the Liberian and Harper basins before the 2014 oil price downturn slowed activity. Since then, Liberia has modernized its petroleum framework through its 2020 Petroleum Law and subsequent licensing rounds, supported by extensive modern 3D seismic coverage.

The offshore margin hosts thick Cretaceous-to-Tertiary sedimentary sequences and multiple high-impact play types, including deepwater detached basin floor fans, transform margin structural traps, and syn-rift reservoirs analogous to major discoveries offshore Ghana, Guyana, Sierra Leone, and Côte d’Ivoire.

First movers to chase the novel deep water detached basin floor fan plays offshore Liberia include: BluEnergies, TotalEnergies and Atlas Oranto Petroleum Company (Nigerian Oil Company) and PetroQuest Liberia.

Recent reinterpretation of the Sunfish 3D seismic data by companies including BluEnergies and TGS has identified massive Late Cretaceous basin floor fan systems extending hundreds of square kilometers, comparable to the prolific “Golden Mile” trend offshore Guyana. Within Block LB-32, prospects such as Jupiter and Zeus exhibit seismic anomalies consistent with high-porosity, potentially hydrocarbon-filled sands.

Liberty Petroleum Corporation and PetroQuest Liberia view the Harper Basin as a multi-billion-barrel frontier opportunity, with Block LB-32 alone estimated to contain approximately 4.5 billion barrels of unrisked resource potential.