MONROVIA – Grand Kru County District #2 Representative and former Speaker of the House, Cllr. J. Fonati Koffa, has triggered a new wave of scrutiny over Liberia’s latest oil exploration deal after declaring that the company named in the agreement, Oranto Petroleum Liberia Limited, does not legally exist in the country’s corporate registry.
In a statement released Friday evening, November 7, 2025, Koffa said he conducted a meticulous review of Liberia’s business registry and relevant corporate documents. His findings, he asserted, reveal that the entity contracting with the Government of Liberia is not registered under the name being publicly promoted.
“After diligent search with the business registry and entities involved in the Oranto deal, I can confirm that Oranto Petroleum Liberia Limited is a fake company,” Koffa wrote. “What is registered in Liberia is an entity called Oranto Petroleum Limited, a British Virgin Island company. Because each corporation is a legal person this is equivalent to signing contract with an unborn child.”
Koffa argued that such a discrepancy renders the agreement legally defective and leaves Liberia dangerously exposed. “The least that can be done is that the purported Agreement has to be withdrawn,” he said, noting that those involved may have deliberately attempted to construct a new Liberian-based name to avoid outstanding financial obligations.
According to him, the BVI registered Oranto Petroleum Limited, which is part of Atlas Oranto Petroleum, Africa’s largest privately held oil exploration group, allegedly owes Liberia around US$50 million in capital gains taxes from a previous asset-flipping transaction. “Oranto Petroleum Liberia Limited cannot pay the debt of Oranto Petroleum Limited,” he added.
The allegation arrives at a sensitive time, as the government continues to champion the petroleum agreements signed with Atlas Oranto Petroleum for four offshore exploration blocks: LB-15, LB-16, LB-22, and LB-24. The deal, which carried a US$12 million signature bonus, was presented by the Boakai administration as a landmark step toward revitalizing the country’s dormant oil and gas sector.
However, surrounding the deal are long-standing concerns from civil-society groups and petroleum-sector analysts who question the transparency of the award process and Oranto’s business model. Advocacy groups have previously warned that the company has a documented history of acquiring exploration rights across Africa, holding the assets without meaningful investment, and later selling them for large profits, often leaving host countries with limited benefits.
Koffa’s assertion that the Liberian component of the company is non-existent adds a new layer to these concerns. Legal experts note that entering contracts with an entity that is not registered in the jurisdiction where operations will occur may render the deal unenforceable and greatly restrict the government’s ability to demand fiscal compliance or operational accountability.
The development also raises major governance questions for the Liberia Petroleum Regulatory Authority and the Ministry of Finance, both of which were expected to ensure that all due-diligence requirements were satisfied before the signing ceremony. If Koffa’s claims are verified, Liberia could face a prolonged legal and political entanglement that may jeopardize investor confidence and public trust.
Despite the magnitude of the allegations, it remains unclear whether the Executive or the Legislature will move to review or suspend the deal. But the pressure is escalating. As Koffa concluded his statement: “Have a great weekend. God bless our country.”
