The oil & gas industry is poised for growth, with a strong exploration program and global operators active in exploration, development, and production.
Reserves were first discovered in 1979, with first oil in 1997. Twenty years later, there are four fields producing an average of 240,000 barrels per day and a fifth field, the $14 billion Hebron project, nearing production. Exploration and licensing continue with the last round in 2016 seeing $758 million in work commitments across eight land parcels. The next licensing rounds are scheduled from 2017 to 2020.