| Mauritania produces
no oil, however, the possibility of the existence of offshore
oil has prompted Nouakchott to explore. The original survey
by Beicip-Franlab in 1980 was updated in 1985 and 1992; however,
more seismic surveillance is required before the actual production
potential can be determined.
The contractor for an oil production project will recover
expenditures of exploration, development and operation from
the annual production, and the remainder of the production
will be split between the government and the contractor as
per their agreement. Contractors will be exempt from taxes
and may import and export without duties (Mauritania Today,
December 1995).
The population consumes 9,000 barrels of oil per day.
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