Industry interest in the South Atlantic region has swelled in recent years, buoyed in particular by 2010’s landmark Sea Lion oil discovery by Rockhopper Exploration, UK-based research and consulting firm GlobalData said.
However the local government is expected to stick to its attractive fiscal regime through the short to medium term to avoid damaging the nascent sector’s profitability.
GlobalData’s upstream analyst for Latin America Mike McCormick said that “it would be a premature move on the government’s part to amend the current regime in order to claim a greater share of the benefits from these discoveries”.
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