Madagascar to start producing crude early next year
Published on Nov 27, 2012 6:14 AM
CAPE TOWN (AFP) - Madagascar Oil on Friday said it will start extracting oil next year in a pilot phase at its Tsimiroro field that could produce 150,000 barrels per day based on early estimates if commercially viable.
The London-listed firm's deputy general manager in Madagascar, Ms Emma Ralijohn said the company plans to extract oil from its block in the west of the island using a steam method with a peak of 1,000 barrels a day during the test period.
"It will last around 18 months," Ms Ralijohn told AFP on the sidelines of an oil and gas conference in Cape Town.
The Indian Ocean island has yet to have a commercially exploitable discovery and Tsimiroro is the company's most developed field with a contingent reserve of 1.7 billion barrels over 20 percent of its area.
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