Madagascar to Offer Exploration Licences Next Year

Madagascar will most likely issue onshore and offshore exploration licences next year once parliament approves a new energy law.

According to news agency Reuters the African nation will issue three onshore and up to 50 offshore licences.

“The new petroleum code will be submitted to parliament at the end of this year, or for its next ordinary session in May 2015,” Pascal Velonarivo, Director General of Hydrocarbons at the Ministry of Hydrocarbons, Madagascar, told an east African oil and gas conference in the Kenyan capital Nairobi.

As per Reuters, Madagascar has a total 249 exploration blocks, of which 24 have so far been licensed to exploration companies.