SacOil has been granted an eight month extension to its existing licence term for the onshore Block 1 which is situated in the northern part of Malawi,

The expiry date for the extension is now on August 12, 2017.

This extension gives the company the greenlight to forge ahead with the completion of its commitment for the licence. The work program for the block includes the procurement of infill gravity and magnetic data as well as the conclusion of geological field work over the licence.

SacOil is the operator of the licence. The company is currently in the course of completing the environmental and social impact assessments and the evaluation and processing of the general gravity and magnetic data over Block 1.

Furthermore, the company is planning to carry out a desktop study on the area, which is producing positive results, Energy-pedia reports.

Anita Fatunji