Madagascar Oil

Key Facts:

Madagascar Oil holds a 100% working interest in Block 3104 which contains the Tsimiroro oil field
The block is massive, covering more than 6,000 sqkm
A 25-year (extendible to up to 50 years) Production Sharing Contract was awarded in 2015, the first in the country’s history
A successful steamflood pilot (500 bopd) was held from 2014-2016, proving that the oil could be commercially extracted
The company has since developed a local logistics, sales, and delivery plan with commercial deliveries of fuel oil made in 2021
A refurbishment and expansion of the production facilities is expected to take in place in 2025