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Madagascar Oil launches this Wednesday its phase testing on the local market of crude oil

Madagascar Oil Limited after obtaining approval to the Malagasy Government for local market barrels of heavy oil from the oilfield of Tsimiroro begins its first operations this Wednesday, June 18, 2014 for the sale of crude oil.
Between 55,000 and 73,000 barrels should be sold in the second half of 2014 for a phase of full-scale test and that will be carried out in six months, as reported by the Madagascar Tribune newspaper.
For Gordon Stein, Member of the Board of Directors of Madagascar Oil Limited, the company wants to obtain "the approval of the development plan on a large scale before the end of 2014" and "begin new drilling and modernise its facilities by 2015".
"Testing sales of crude oil of Tsimiroro in the near future would generate cash flow for the Group. They would also integrate Madagascar to the list of oil-producing countries will be an important step in Madagascar. The society is pleased to be part of this new phase in the economic development of the country, "he said.
As a reminder, the Tsimiroro oilfield is located in the West of Madagascar, in the heart of the region of Morondava.

Antso Rajaona

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