Petroleum Africa
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Tuesday, September 11, 2018
Madagascar Oil will resume heavy oil production activities at Madagascar’s Tsimiroro field, two years after the interruption of production due to difficulties in transport and the lack of outlets.
The new management of Madagascar Oil has obtained with its main shareholder, Benchmark Group, an agreement for the rehabilitation of the road between Tsimiroro and the port city of Maintirano. This will allow for the company to avoid secondary roads to transport the fuel to the capital, Antananarivo.
Production from the Tsimiroro will be used as feedstock for Jirama’s power plant. Jirama is the country’s public electricity distribution company.
The company recently said that with Madagascar Oil’s heavy oil, it will record a 25% reduction in its electricity production costs.
Madagascar Oil is preparing to build a storage terminal for its heavy oil in Maintirano. In addition, the company holds in stock 160,000 barrels of heavy oil and is currently exploring export opportunities.
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