In terms of revenue generation, the state has earned a total of $10.69 billion from the crude oil produced over the years, with the exception of 2011, when no semi-annual report was produced by PIAC.
Liberia has launched a direct negotiation licensing round for 29 offshore blocks, government authorities and partner TGS announced on Thursday.
The new licensing round is intended to attract investors into the Liberia hydrocarbon industry and boost investment in the sector.