National Oil Company of Liberia

Name

National Oil Company of Liberia

Legal name

National Oil Company of Liberia

Website

https://nocal.com.lr

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Monrovia

HQ country

Liberia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Infrastructure, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Signature Bonuses and Signing Fees: NOCAL collects signing bonuses and signature fees from international oil companies upon execution of Production Sharing Contracts (PSCs). For example, TotalEnergies paid US$16 million and Atlas/Oranto Petroleum paid US$12 million in signature bonuses for their respective PSC agreements. VisionWave Holdings paid $600,000 initial signing bonus ($300,000 per block) for the Letter of Engagement for Blocks LB-4 and LB-5.
2. State Participating Interest Income: NOCAL manages the State's participating interests in petroleum agreements, including marketing the State's share of production. As a state-owned institution, NOCAL acts as the commercial arm of the State in the petroleum sector.
3. Seismic and Data Licensing: NOCAL markets high-quality multiclient seismic and geological data to interested parties for exploration and acreage evaluation. Additional costs include at least $1 million per block in data licensing fees.
4. Downstream Product Sales and Service Stations: NOCAL intends to invest in importing finished petroleum products, constructing storage facilities, and establishing mega service stations across the country, serving Liberia's domestic energy market.
5. Professional Services and Administration: NOCAL charges fees for procurement, shore base operations, and other petroleum sector administrative services.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

NOCAL is Liberia's state-owned national oil company that manages the country's petroleum resources on behalf of the Government. Its core operations include upstream management of 33 offshore blocks across the Liberia Basin and Harper Basin, marketing multiclient seismic and geological data, facilitating Production Sharing Contracts (PSCs) with international oil companies, and administering the State participating interest. The company also plans downstream activities including petroleum imports, storage, and service stations.

Product overview

NOCAL operates as a state-owned national oil company managing Liberia's petroleum resources through multiple integrated service lines: Upstream Services covering exploration and production across 33 offshore blocks; Seismic Data Services providing multiclient geophysical data for exploration; Downstream Services including petroleum storage and fuel distribution; Shore Base Infrastructure supporting offshore operations logistics; and Petroleum Agreements Management facilitating Production Sharing Contracts. The company also operates a Corporate Social Responsibility Program focused on community development. The portfolio is organized around the petroleum value chain from exploration through downstream distribution.

Differentiator

Problem solved

Functional benefit

Products and services

• Upstream Services

Quantifiable outcome

• Exploratory wells have confirmed a working petroleum system in Liberia's offshore basins
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

13 partnerships are on record, tiered core and minor.

• VisionWave HoldingscoreStrategic or Co-development Partner · 24 March 2026VisionWave Holdings entered a Letter of Engagement with NOCAL for offshore petroleum Blocks LB-4 and LB-5 in the Liberia Basin, granting an exclusive eight-month pathway toward a potential Production Sharing Contract. VisionWave intends to evaluate its proprietary RF-based sensing and imaging technologies alongside traditional seismic and geophysical methods for offshore exploration. Initial signing bonus of $600,000 ($300,000 per block) with additional costs of at least $1 million per block in data licensing fees and $1 million per block in signature bonuses if PSC advances. Subject to prequalification, regulatory approvals, and legislative ratification.
• AOW: EnergycoreGTM or Marketing Partner · 13 March 2026NOCAL partnered with AOW: Energy, the leading independent platform connecting the African energy industry with global investors, industry leaders, and policymakers. Through this partnership, NOCAL and AOW jointly promote Liberia's growing upstream potential. NOCAL releases the Liberia Upstream Guide on the AOW platform — a detailed data room and investment memorandum covering Liberia's hydrocarbon basins, fiscal terms, and regulatory roadmap.
• KC Geoscience Consulting LLC (Karen Carlson)minorStrategic or Co-development Partner · 14 January 2026NOCAL partnered with Houston-based geoscience expert Karen Carlson (KC Geoscience Consulting LLC) to host a two-day technical workshop on advancing Liberia's petroleum exploration. Ms. Carlson has over 50 years of experience in petroleum geology with Marathon Oil and Chevron. Workshop focused on shallow-water exploration prospects, rift systems, and modern interpretation techniques on legacy datasets.
• Morocco's National Office of Hydrocarbons and Mines (ONHYM)coreStrategic or Co-development Partner · 12 November 2025NOCAL and Morocco's ONHYM signed a Memorandum of Understanding to deepen collaboration across hydrocarbons and energy sectors. The pact strengthens research, exploration, data sharing, training, and investment ties between the two nations. This follows the tripartite agreement among NOCAL, ONHYM, and NNPC for the African Atlantic Gas Pipeline Project linking ECOWAS countries along the Atlantic coast to Mauritania, Morocco, and eventually Europe.
• Atlas/Oranto PetroleumcoreStrategic or Co-development Partner · 22 September 2025Atlas/Oranto Petroleum signed four Production Sharing Contracts with the Government of Liberia for offshore blocks LB-15, LB-16, LB-22, and LB-24, with a signature bonus of US$12 million. Each block has estimated investment value of US$200 million. Atlas/Oranto holds 22 licenses across 11+ countries with current production of approximately 18,000 barrels of oil per day from assets in Equatorial Guinea, Nigeria, and Venezuela.
• TotalEnergiescoreStrategic or Co-development Partner · 15 September 2025TotalEnergies signed a Production Sharing Contract with the Government of Liberia for four offshore blocks: LB-6, LB-11, LB-17, and LB-29, with a signature bonus of US$16 million. Estimated investment value of US$200 million per block. TotalEnergies invested nearly US$3.5 million to acquire seismic data prior to signing. One of the world's largest integrated energy companies operating in over 120 countries, producing approximately 2.4 million barrels of oil equivalent per day.
• TGScoreStrategic or Co-development PartnerTGS has been Liberia's geophysical and geological partner for nearly 25 years, playing a pivotal role in promoting Liberia's subsurface potential to international oil companies and facilitating transformative exploration deals. TGS supports NOCAL's seismic data reprocessing (Sunfish 3D project) and CSR projects including the rebuilding of the Rehab Market in Paynesville.
• Government of LiberiacoreStrategic or Co-development PartnerNOCAL is a state-owned institution mandated to act as the commercial arm of the State in the petroleum sector, established under the NOCAL Act of 2014, as amended. President Joseph Nyuma Boakai Sr. has directed NOCAL to vigorously pursue its essential functions including managing State participating interests and activating the Executive Allocation Framework.
• Liberia Petroleum Regulatory Authority (LPRA)coreStrategic or Co-development PartnerNOCAL collaborates with LPRA for petroleum sector regulation, block licensing, prequalification of IOCs, and PSC negotiations. LPRA conducts prequalification processes and negotiations as part of NOCAL's block acquisition framework.
• Ministry of Lands, Mines & EnergycoreStrategic or Co-development PartnerNOCAL works with the Ministry of Lands, Mines & Energy as part of Liberia's petroleum sector governance framework, including participation in the technical workshop with geoscience experts.
• Liberia Revenue Authority (LRA)minorStrategic or Co-development PartnerNOCAL collaborates with LRA on financial transparency, revenue management, and EITI compliance as part of its governance and accountability framework.
• James A. A. Pierre Judicial InstituteminorStrategic or Co-development PartnerNOCAL partnered with the James A. A. Pierre Judicial Institute to prepare judges for Liberia's new frontier in oil and gas, delivering a judicial capacity building workshop on oil and gas legal frameworks in April 2026 in Ganta.
• Nigerian National Petroleum Corporation (NNPC)coreStrategic or Co-development PartnerNNPC is part of the tripartite agreement with NOCAL and Morocco's ONHYM for the African Atlantic Gas Pipeline Project, linking ECOWAS countries along the Atlantic coast to Mauritania, Morocco, and eventually Europe.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• NNPC Limited (Nigerian National Petroleum Company): NNPC is Nigeria's state-owned national oil company and is explicitly identified as a direct partner of NOCAL in the tripartite African Atlantic Gas Pipeline agreement. Both NNPC and NOCAL function as state commercial arms managing petroleum rights, PSCs with IOCs, and downstream operations in West Africa.
• Office National des Hydrocarbures et des Mines (ONHYM, Morocco): Morocco's national hydrocarbons and mines office is a confirmed MOU partner of NOCAL for collaboration across hydrocarbons, exploration, data sharing, training, and investment. ONHYM performs the same sovereign petroleum resource stewardship role for Morocco that NOCAL does for Liberia.
• Ghana National Petroleum Corporation (GNPC): GNPC is Ghana's state-owned national oil company managing upstream petroleum rights, exploration partnerships, and state participating interests in the Tano Basin and Cape Three Points. Both NOCAL and GNPC operate as commercial arms of West African governments with similar PSC frameworks and frontier acreage strategies.
• Société des Pétroles du Sénégal (Petrosen): Petrosen is Senegal's national oil company managing upstream exploration and state participation in the MSGBC Basin alongside recent major discoveries (Sangomar, Yakaar-Teranga). Petrosen and NOCAL are direct comparables as West African NOCs pursuing frontier basin development with IOC partnerships.
• National Petroleum Corporation of Namibia (NAMCOR): NAMCOR is Namibia's national oil company, with NOCAL explicitly comparing Liberia's Harper Basin geology to recent Namibian discoveries (Galp/Shell Orange Basin plays). Both NOCs share frontier exploration positioning along the West African transform margin and analogous Cretaceous plays.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/OurNOCAL
• LinkedInlinkedin.com/company/national-oil-company-of-liberia-nocal-%E2%80%93-official-page/posts/?feedView=all
• Instagraminstagram.com/nocal_liberia231?igsh=MXR0dDF2ZGRhOW5peg%3D%3D
• Xx.com/NOCAL__

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Oil Company of Liberia