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Wednesday, November 13, 2013
SacOil has been busy planning its environmental and social impact assessment in Malawi for Block 1 which are currently underway. At 12,265 sq km the block is the second largest petroleum exploration license demarcated in the country. In consultation with the Malawian government, SacOil is currently targeting to have all environmental work completed by Q3 2014.
SacOil has an exclusive 100% interest and operator status in this block.
The block is located in the northwestern part of Malawi bordering Tanzania to the north and Zambia to the west. The license area is located on trend with the East African rift system which is a proven exploration province with prolific oil discoveries in Sudan, Chad, Kenya, and Uganda. Through initial work completed, the SacOil technical team anticipates that the same Tertiary rift system will be present in Malawi which may, therefore, potentially yield deposits of hydrocarbons.
In Botswana the company is in the process of collating all geological information available on the petroleum prospectivity pertaining to licenses 123, 124, and 125. A review of this information is currently underway. The three licenses cover an area of approximately 49,463 sq km.
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