Gabon's economy is dominated by oil. Oil revenues constitute roughly 46% of the government's budget, 43% of the gross domestic product (GDP), and 81% of exports. Oil production is currently declining rapidly from its high point of 370,000 barrels per day in 1997. Some estimates suggest that Gabonese oil will be expended by 2025. In spite of the decreasing oil revenues, planning is only now beginning for an after-oil scenario. The Grondin Oil Field was discovered in  water depths  offshore, in 1971 and produces from the Batanga sandstones of Maastrichtian age forming an anticline salt structural trap which is about  deep.