A Leader in Madagascar’s Developing Energy Industry
The awarding of the development license is the key with regard to moving forward with the development of 1.7 billion barrels of contingent resource already identified in the Tsimiroro field. Through the application of various thermal techniques, Tsimiroro is capable of being in the league of the world’s giant oilfields. Additionally, the Company is seeking to further balance the portfolio through a sustained evaluation of the prospectivity of the exploration properties. This work will specifically target potential high gravity oil or large volume gas opportunities.
The Company is fully committed to working closely with the Government of Madagascar to achieve the important strategic objective of developing its first commercial production and placing Madagascar in the league of significant oil suppliers. Madagascar Oil is fully engaged in making a positive contribution to the local communities in its operations area, and to the country, through its commitment to Corporate Social Responsibility through an array of community programs and projects. The Company is also participating in programs to sustain the healthy biodiversity of the Island.
In September 2016, Tsimiroro Field oil was successfully used to generate electricity at the Mandroseza power plant in Antananarivo.
Developing Low-Sulfur Fuels
Tsimiroro Oil Field is located 125 km from the west coast of Madagascar – first discovered in 1909 with 14 degree API oil at shallow depths along a 65-km-long geologic structure. Madagascar Oil has drilled 150 development & appraisal wells, capable to supply low-sulfur fuels to help meet rising national and regional energy demand.
Euronews Interview with CEO