gas

“Locals were concerned about their (the company’s) water and their grazing area because the company will use four barrels of water to produce one barrel of heavy oil,” said ONE General Director Jean Chrysostôme Rakotoary said.

gas “After seven months of studies, we saw that the company fulfilled all processes on the respect of environment and we decided to deliver the permit,” said the director.

Madagascar Oil, which operates in Tsimiroro western Madagascar, put its Environmental Impact Study (EIS) to ONE in June 2015 to ask this environmental permit.

“This permit is so important for Madagascar because it is the first oil production never seen in the country,” said the company’s General Manager Stewart Ahmed said.

The permit will allow Madagascar Oil to realize its plan to produce 6,000 barrels of crude oil per day in 2016, 10,000 barrels in 2018, and from 25,000 to 50,000 barrels of crude oil by 2020, Ahmed said, adding that the needs of Madagascar is around 2,000 barrels per day.

Due to the drop of oil price internationally, Ahmed said that the company will target first the local market, and export will be done after.

The general manager said the company has planned to sell their crude oil at half price of the pump price of diesel. Enditem

Source: Xinhua

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.