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Madagascar: Oil extraction of Tsimiroro officially authorized

The Malagasy authorities have recently formalized by a decree in mid-April, and this, for the next 25 years their approval for the development of the mining and marketing petroleum heavy oil, of the site Tsimiroro and operated by Madagascar Oil Limited.
The Office of National Mines and Strategic Industries (OMNIS) has obtained the exploitation of hydrocarbon and management titles in close cooperation with Madagascar Oil Limited.
"Petroleum remains to Malagasy people," said Minister Valerian Joeli Lalaharisaina in charge of Mines and Petroleum even though foreign companies could subsequently be solicited. The deposit of Tsimiroro would have according to experts in its basement estimated potential between 1.7 and 2.1 billion barrels.
Madagascar Oil Limited currently has a heavy oil stock estimated at 90,000 barrels from the oil deposit in Tsimiroro. Thus, in 3 years, the company expects a commercialization of up to 5,000 to 6,000 daily. One third of production is reserved to power generators of Tsimiroro.
As a reminder, the Tsimiroro oil field is located in the west of Madagascar at the heart of the Morondava region.


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