Energia
Madagascar Oil: Appointment of Commercial Director
Previous responsibilities included accounting, business and advisory services, negotiating with the authorities, providing audits and consulting services for mining and energy companies and managing a team of over 250 people, across eight regional offices.
Madagascar Oil (MOIL) is a producer of IMO2020 compliant low sulphur fuel from one of the world's largest heavy, sweet crude oil reserves. The company has 2P reserves of 614 million barrels and 3C resources of 1.6 billion barrels. MOIL is a low cost producer focused on the ongoing development of the Tsimiroro Field, which has a medium term production target of 45,000 bpd, and projected peak production of 90,000 bpd. MOIL is committed to the highest standards of Environmental, Social and Governance (ESG) performance. Given the Tsimiroro crude's low sulphur content (0.3%), it is helping to significantly reduce global sulphur pollution, and in sustaining global shipping and trade. The project itself is designed to have a low carbon footprint, using solar to power crude production. The Company's major shareholder, Singapore -based Benchmark Group, is a proven developer of heavy oil projects and brings a strong corporate governance framework. Madagascar is a proven hydrocarbon country with USGS estimates of 10 billion barrels of recoverable oil and 167 TCF of gas.
For more information, visit www.madagascaroil.com.