The National Oil Company of Liberia (NOCAL) and the Lagos Deep Offshore Logistics Base (LADOL) have signed a Joint Development Agreement (JDA) to construct and operate a logistics base in Buchanan, Grand Bassa County. This partnership aims to establish local capacity building and retain economic benefits in Liberia's oil and gas sector. The agreement was announced on October 3, 2026, and marks a significant step towards developing Liberia's petroleum operations. The proposed Buchanan shorebase addresses a gap in Liberia's petroleum operations, where earlier drilling relied on services supplied from neighboring countries.
The partnership designates LADOL as the technical lead partner to NOCAL in funding and conducting a feasibility study, coordinating the technical engineering design, constructing, and operating the shorebase. The feasibility study is expected to commence in the next 45 days and last for six months, covering critical areas such as land area assessment, waterfront and marine access, utilities planning, commercial and operational viability, geotechnical and topographical surveys, and Environmental and Social Impact Assessment (ESIA) scoping. This study will shape the proposed supporting facility and the partners' definitive agreements.
The Buchanan Shorebase Project is a direct response to a critical lesson learned during Liberia's last drilling program, where essential oilfield services were sourced from neighboring countries, resulting in substantial economic benefits and job opportunities being realized outside of Liberia. NOCAL aims to correct this narrative by ensuring that jobs, contracts, training, and ancillary services supporting petroleum operations are performed by Liberian companies and create opportunities for Liberian citizens. The project offers a potential connection between offshore exploration and onshore economic activity in Buchanan.
Fabian M. Lai, President and CEO of NOCAL, emphasized that the partnership with LADOL is about anchoring the value chain of Liberia's petroleum sector firmly in Liberian soil. He stated that the goal is to ensure that Liberian businesses and workers are the primary beneficiaries of the country's natural resources. The agreement outlines a clear path for LADOL's role as a technical partner, and both parties will serve as the exclusive developer, operator, and maintenance provider for the facility.
Sir Oladipo Ladi Jadesimi, Executive Chairman of LADOL, expressed confidence in Liberia's oil and gas potential and commitment to fostering local content development across West Africa. He stated that the partnership is a testament to LADOL's confidence in Liberia's oil and gas potential and its commitment to building a sustainable future for Liberia's oil and gas industry. The partnership aims to ensure that Liberian businesses and workers are the primary beneficiaries of the country's natural resources.
The JDA includes provisions for a Joint Steering Committee to oversee the project's progress and a commitment to complete definitive project agreements. The parties have also agreed to strict confidentiality and non-circumvention clauses to protect the integrity of the partnership. NOCAL and LADOL will work together to develop the shorebase, which is expected to create jobs and stimulate economic growth in Liberia.
NOCAL is a statutory public corporation of the Government of Liberia, representing the state interest in all petroleum agreements and responsible for promoting, exploring, and developing the country's oil and gas resources. LADOL is a leading indigenous African company providing integrated logistics and engineering solutions to the oil and gas industry, with its flagship facility in Lagos being a major hub for offshore operations in West Africa. The partnership between NOCAL and LADOL marks a significant step towards developing Liberia's oil and gas sector and promoting local participation.
Key points
- NOCAL and LADOL partner to develop a logistics base in Buchanan, Liberia, aiming to boost local participation and retain economic benefits in the country's oil and gas sector.
- The partnership aims to ensure that jobs, contracts, training, and ancillary services supporting petroleum operations are performed by Liberian companies and create opportunities for Liberian citizens.
- The feasibility study for the project is expected to commence in the next 45 days and last for six months, covering critical areas such as land area assessment, waterfront and marine access, and environmental impact.
