The global economy has seen a slowdown in its pace of recovery recently and is expected to continue decelerating going forward. The Purchasing Managers' Indexes (PMIs), indicators of business sentiment, for all three major economies -the United States, Europe, and China -- have deteriorated (Chart 2).
There are undersea explorations for minerals (gold) with positive results. The Gas developments are moving into a new stage of developing a Liquefied Natural Gas project as well as a Gas Condensate project. The outcome is high demand for gas exploration licenses and many new companies have commenced exploration work. The investment incentive and tax regimes are considered very competitive and favourable.