Madagascar Opens Fresh Offshore Licensing Round
Island nation Madagascar puts 44 blocks in the Morondava Basin up for grabs, detailing exploration and exploitation periods under production sharing contracts.
In the framework of the development of Madagascar's oil and gas potential, the Malagasy State through OMNIS continues to promote projects that attract new private investment in the short, medium and long term.
The state regulator OMNIS, together with TGS and BGP, has worked to create an attractive environment for offshore exploration.
Exploration in Madagascar began in the early 1900s with the discovery of hydrocarbon-rich sedimentary basins in the west, including the Tsimiroro heavy oil field and the Bemolanga tar sands.
After over 100 years of exploration, the offshore of this frontier region remains largely under-explored. The Island shares a maritime boundary with Mozambique, a hydrocarbon province where large quantities of natural gas have been discovered.
Studies conducted on new data, in collaboration with TGS and BGP, suggest there is significant potential for future discoveries offshore.
The announcement has made by Voahangy Nirina Radarson, Director General of OMNIS.
OMNIS' Mission is to implement the national policy on oil and mining exploration and exploitation; to value basic geological data; and to foster partnerships with foreign oil and mining companies.
