Madagascar Oil at a Glance

Madagascar Oil in Madagascar

Madagascar Oil Limited is a Bermuda registered company founded in 2004 and headquartered in Antananarivo, Madagascar.

The Company has oil and gas exploration and development rights in Madagascar, it’s two principal assets being Block 3104 (Tsimiroro) and Block 3102 (Bemolanga).

Both blocks are located onshore Madagascar and are contiguous:

  • Block 3104 (Tsimiroro) is approximately 100km in-land from Maintirano on the west coast of Madagascar (220km by road) and 275km west of the capital Antananarivo (360km by road).  It covers an area of 6,670km2;
  • Block 3102 (Bemolanga) is located immediately to the north of Block 3102, is approximately 150 km by road from Maintirano on the west coast of Madagascar and 450km northwest of the capital Antananarivo by road.

The Company has a 100% working interest in the Production Sharing Contracts covering both Block 3104 and Block 3102.  These interests are held through its wholly owned Malagasy subsidiary, Madagascar Oil S.A.

First Oilfield development license in Madagascar

Madagascar Oil is Madagascar’s leading and longest operating oil and gas company having been in country since 2004.

In 2015 the Company was the first oil and gas company in Madagascar to advance an upstream oil and gas exploration project to the development phase when it was awarded a 25-year development mining title approval for Block 3104 (Tsimiroro).

This award represents the first Production Sharing Contract to enter into the development phase in Madagascar. It not only awards a 25-year development mining title, but the additional extensions to enable a potential development period of up to 50 years provided production remains commercial.

Investment in Madagascar

Approximately $400 million has been invested in Madagascar since 2004 in drilling appraisal wells, pilot production and steam injection wells, surface infrastructure, steam generation, flow lines, oil processing and storage facilities.

Throughout the drilling and production operations the Company has maintained excellent safety, environmental and social responsibility standards.  The workforce is comprised predominately of Malagasy national employees and the Company is committed to the employment and training of local workers.

The Company continues to make 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.