The Fiji Trade and Investment Board says the country has very good prospects of becoming an oil producer.
The board's chairman, Joe Singh, has told commercial radio station Legend that research shows there is a strong possibility of an oil deposit under the seabed in Bligh Waters north of Viti Levu.
Mr Singh says exploration work is now needed to determine whether commercial quantities of oil are available.
Mr Singh says the board is encouraging prospecting work not only for oil but for all minerals.
