1. Combine first 5 ingredients in a medium saucepan over high heat, whisking until smooth. Bring to a boil; reduce heat, and simmer until reduced to 3/4 cup (about 25 minutes). Remove from heat. Stir in lime juice, mint, and basil; let stand 5 minutes. Strain into a measuring cup; discard solids. Keep sauce warm.
2. Heat a large nonstick skillet over medium-high heat. Add oil; swirl to coat. Sprinkle fish evenly with pepper and salt. Add fish to pan; cook 4 minutes on each side or until desired degree of doneness. Serve fish with sauce.
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