X

Sign Up To Our Free Newsletter

Join Now

Thanks for subscribing to our free newsletter!

ERROR

  • 3 minutes Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Scientists Warn That Filling The Sahara With Solar Panels Is A Bad Idea
  • 11 minutes United States LNG Exports Reach Third Place
  • 15 minutes Joe Biden's Presidency
  • 3 hours U.S. Presidential Elections Status - Electoral Votes
  • 6 hours Texas forced to have rolling black outs, primarily because of large declines in output from fossil fuel power plants
  • 2 days Interest article about windmills and waterwheels in Europe
  • 2 hours Good Marriage And Bad Divorce: Germany's Merkel Wants Britain and EU To Divorce On Good Terms
  • 16 hours Retired RAF pilot wins legal challenge over a wind farm
  • 2 days “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 2 days Chance for (Saudi)Arabian peninsula having giant onshore Gas too?

Madagascar: The Hottest Energy Play in East Africa

Madagascar’s been sitting on some 20 billion barrels in oil reserves for quite a while. Investors have only recently shown interest, though. Extraction is technologically challenging, and no one was quite sure about commercial viability. But the wait is over. The oil will begin to flow—soon.

Expect to see a rush on Madagascar, as all eyes are turned on East Africa’s natural resources.

The good news comes from UK-listed Madagascar Oil, which announced this week that it expects production to begin early next year and hopes to extract 3.9 billion barrels of heavy crude from sands. The country hopes to start exporting oil by 2020.

Madagascar Oil (LON: MOIL) should see its 28-well steam flood pilot project at its major Tsimiroro onshore field operational in three months. The field has an estimated 1.7 billion barrels of oil-in-place—an estimate that could increase with further work in the field.

Madagascar Oil is also working another field—Bemolanga—with partner Total (France). 

According to the company, “Tsimiroro and Bemolanga, have been shown to have multi-billion barrel resource volumes in place. Recent field tests and studies suggest that a large portion of the Company's Tsimiroro heavy oil assets have excellent potential for economic development.”

But this is only scratching the surface of Madagascar’s potential.

Madagascar has 225 offshore exploration blocks, plus a…




Oilprice - The No. 1 Source for Oil & Energy News