TOTAL Madagascar: an extension of one year of its exploration license

The company Total Madagascar has just extended for one year its oil exploration license in the Great Island. In fact, in addition to exploring heavy oil, the company has also recently focuses on the exploration of conventional oil in Madagascar. So, in order to carry out successfully its exploration project, Total Madagascar has decided to ask for an extension of its exploration license.

The license being extended concerns mainly the block 3102 of the Bemolanga project, which is located at the Morondava basin, in the west coast of Madagascar. Total owns 60% of this license while the 40% is held by the company Madagascar Oil. Last year, Total affirmed it would be able to start extracting heavy oil at the Bemolanga site by 2019. This license extension agreement would allow Total Madagascar to explore heavy oil as well as conventional oil at the same time, which would also increase its chance in respecting the 2019 deadline.