Companies

Madagascar: Oyster Oil and Gas acquires Afren’s interest in Block 1101

Wednesday, 18 November 2015 19:06

(Ecofin Agency) - In Madagascar, Oyster Oil and Gas has confirmed reports of the departure of Afren Group from the country and the release of its previously held interests in onshore Antsiranana concession Block 1101.

According to the company, the government of Madagascar and the Office des Mines Nationales et des lndustries Stratégiques (OMNIS) has requested its presence in order to discuss and agree on the transfer of responsibilities for Block 1101 in compliance with various contracts and to also discuss the forward work program for 2016 to 2017.

The Oyster executive team have a long-standing relationship with Madagascar and OMNIS, which goes back to 2006 as original signatories and operator of the contract (with a previous company). We look forward to working closely together in the future with OMNIS in developing the forward work program and oil prospectivity of Block 1101” Michael Wood CEO of Oyster told Oil and gas press.

The onshore Antsiranana concession Block 1101, covers about 14, 500 km², in the Eastern part of the Ambilobe Basin. The block was formerly licenced to Candax Madagascar and East Africa Exploration (EAX) in 2006, to be effective from July 30, 2007. Afterwards, EAX (later acquired by Afren Group), took up the operatorship of the block with 90% working interest and Candax with 10%. Oyster, however, secured Candax’s 10% working interest in the block in October 2013.

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