Buchanan Set for Oil & Gas Shorebase

LONDON, United Kingdom, October 5, 2026 — The National Oil Company of Liberia (NOCAL) and Nigeria-based Lagos Deep Offshore Logistics Base (LADOL) have signed a Joint Development Agreement (JDA) to advance plans for an oil and gas logistics and shorebase facility in Buchanan, Grand Bassa County.

The agreement, signed October 3 in London, is intended to lay the groundwork for infrastructure to support anticipated offshore drilling activities while increasing opportunities for Liberian businesses and workers in the petroleum sector.

Under the agreement, LADOL will serve as NOCAL’s technical lead partner for the feasibility study, engineering design, construction and eventual operation of the proposed Buchanan Shorebase.

The feasibility study is expected to begin within 45 days and run for approximately six months. It will assess land requirements, waterfront and marine access, utilities, commercial and operational viability, geotechnical and topographical conditions, as well as the scope of an Environmental and Social Impact Assessment.

NOCAL said the initiative is partly informed by lessons from Liberia’s previous offshore drilling campaign, when several critical oilfield services—including waste disposal, logistics, supply-chain management and specialized technical support—were sourced from neighboring countries, including Côte d’Ivoire, Ghana and Senegal.

According to the company, reliance on regional service providers meant that some of the economic benefits and employment opportunities associated with petroleum operations were realized outside Liberia.

With additional drilling campaigns anticipated under petroleum agreements already signed by the Government of Liberia, NOCAL said the proposed Buchanan facility is intended to provide logistical support for international oil companies while creating greater opportunities for Liberian companies and workers.

“We are determined to correct that narrative as we prepare for our next set of drilling programs,” NOCAL President and CEO Fabian M. Lai said.

Lai said the partnership with LADOL goes beyond developing a logistics facility and is intended to help retain more of Liberia’s petroleum-sector value chain within the country.

“Our goal is to ensure that the jobs, the contracts, the training, and the ancillary services that support our petroleum operations are performed by Liberian companies and create opportunities for Liberian citizens right here in Liberia,” he said.

The agreement allows NOCAL and LADOL to collaborate on the construction and operation of the shorebase, with the two entities expected to serve as the exclusive developer, operator, and maintenance provider for the facility.

LADOL Executive Chairman Sir Oladipo Ladi Jadesimi said the agreement reflects his company’s confidence in Liberia’s oil and gas prospects and its commitment to supporting local-content development across West Africa.

“We are not just investors; we are partners in building a sustainable future for Liberia’s oil and gas industry,” Jadesimi said.

He said the proposed shorebase could help position Liberian businesses and workers to benefit more directly from activities associated with the country’s petroleum resources.

The JDA also establishes a Joint Steering Committee to oversee implementation and provides for the parties to negotiate and conclude definitive project agreements. It also contains confidentiality and non-circumvention provisions covering the partnership and its commercial interests.

NOCAL is a statutory public corporation of the Government of Liberia responsible for representing the state’s interests in petroleum agreements and promoting the exploration and development of the country’s oil and gas resources.

LADOL, founded in 2000, is a Nigerian logistics and engineering company providing integrated services to the oil and gas industry and operating an offshore logistics base in Lagos.