Madagascar seems ripe for picking

Major oil companies bypassed Madagascar in times past, but now it's on ExxonMobil's short list of hot offshore prospects, and the latest licensing round has drawn interest from other major oil companies as well, but onshore prospects offer high potential, too.

Don Lyle

Operators know the island nation's potential, but they have to deal with the uncertainty.Major oil companies bypassed Madagascar in times past, but now it's on ExxonMobil's short list of hot offshore prospects, and the latest licensing round has drawn interest from other major oil companies as well, but onshore prospects offer high potential, too.The island off the east coast of Africa is slightly larger than France, but operators drilled only 75 wells there and only about 10 were offshore. On the downside, 65% were dry holes, according to a Wood...

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