Madagascar Oil owns 100pc of the Tsimoro field
Madagascar Oil seeks expansion partners
Madagascar’s only producing oil company has sizeable ambitions for the frontier province
Independent Madagascar Oil is looking to bring in partners to advance its expansion plans, CEO Al Njoo tells Petroleum Economist. The company is currently only producing up to 1,000bl/d of heavy oil from its Tsimiroro field in the west of Madagascar, but aims to boost that by ten, or even a hundred, times in a series of development phases. The firm at present owns 100pc of Tsimiroro, as well as all of block 3104 in which it is situated, giving it significant runway for equity farm-down. Njoo envisions Phase 1 of a production ramp-up reaching 10,000bl/d within 2-3 years. Feed for the first phase is complete and the company is in the process of raising money to proceed, says Njoo. Subsequent d
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