Earlier this year, it was reported that Oil had been found on the East/Southeast Coast - the Government have now announced a call for 'tenders' to bid in order to determine just how much of a find this really is.

Mining Agency director Octavio Lopez said "The winning company will conduct the geo-scientific work oriented to reveal the potential of the areas (sedimentary river basins) which may contain something that will surely attract investors".

Recently, Lopez was quoted as saying the oil is of high grade with sulphur measuring less than 1%.

The conditions for bidding will be released in January.