The Republic of Madagascar to hold 2018-2019 licensing round

ASKER, Norway -- OMNIS, in partnership with TGS and BGP, announce a licensing round in Madagascar, to be launched at Africa Oil Week, Nov. 5-9, 2018.

Exploration in Madagascar began in the early 20th century with the discovery of heavy oil-rich sedimentary basins in the west; however, this frontier region remains relatively under-explored. The Island shares a maritime boundary with Mozambique, which is in the same oil province where large quantities of natural gas have been discovered. Studies conducted in collaboration with TGS and BGP have resulted in new data that suggest there is significant potential for future discoveries both on and offshore.

"With the aim of intensifying offshore exploration activities, we are delighted to announce that OMNIS will be inviting investment from interested parties, during a licensing round to start in November 2018. We are working together with TGS and BGP to create an attractive environment for exploration in the offshore, and we are confident that this will signal the start of renewed investment for the upstream oil sector in Madagascar," Voahangy Nirina Radarson, general manager of OMNIS, commented.