(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 17. TotalEnergies has signed four Production Sharing Contracts (PSC) for the LB-6, LB-11, LB-17, and LB-29 offshore exploration blocks in Liberia, awarded through the 2024 Direct Negotiation Licensing Round organized by the Liberia Petroleum Regulatory Agency, Trend reports.

The blocks, covering around 12,700 square kilometers in the southern Liberia Basin, will see an initial work program that includes one firm 3D seismic survey.

Kevin McLachlan, Senior Vice-President of Exploration at TotalEnergies, said the move marks the company's return to offshore Liberia.

“Entering these blocks aligns with our strategy of diversifying our exploration portfolio in high-potential new oil-prone basins,” he noted. McLachlan added that the areas hold significant potential for large-scale discoveries, offering opportunities for cost-effective, low-emission developments while leveraging TotalEnergies' deepwater expertise.

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