A Leader in Madagascar’s Developing Energy Industry
The Company is Madagascar’s leading oil and gas company having worked in country since 2004. In 2015 became the first oil and gas company to successfully transition from an exploration license to a development license when it was granted Madagascar’s first upstream mining title giving it a 25-year development license over Block 3104 (Tsimiroro).
Madagascar Oil is now embarking on the first phase of development of the 1.7 Billion Barrel oil deposit identified to date at Tsimiroro.
The development will involve the deployment of a large scale, multi-phase steam flood operation which is expected to be one of the largest steam flood oilfield in the world.
Madagascar Oil is also pursuing the simultaneous and synergistic exploitation of the giant Bemolanga bitumen field, immediately to the north of the Tsimiroro deposit.
Madagascar Oil is fully committed to working with the Government and people of Madagascar in commercially developing the Tsimiroro and Bemolanga assets for the benefit of all stakeholders and placing Madagascar in the league of significant oil producing countries.
In September 2016, fuel oil derived from Tsimiroro production was supplied to the Mandroseza power plant in Antananarivo and demonstrated that domestically produced fuel oil could successfully provide Madagascar with a cost effective and reliable power generation solution.