Press Releases

OMNIS, in partnership with TGS and BGP, announces the opening of the Madagascar 2018-2019 License Round at Africa Oil Week 2018

ASKER, NORWAY (6 November 2018) - In the framework of the development of Madagascar's oil and gas potential, the Malagasy State through OMNIS continues to promote projects that attract new private investment in the short, medium and long term. OMNIS, together with TGS and BGP, has worked to create an attractive environment for offshore exploration.

Exploration in Madagascar began in the early 1900s with the discovery of hydrocarbon-rich sedimentary basins in the west, including the Tsimiroro heavy oil field and the Bemolanga tar sands. After over 100 years of exploration, the offshore of this frontier region remains largely under-explored. The Island shares a maritime boundary with Mozambique, a hydrocarbon province where large quantities of natural gas have been discovered.

Studies conducted on new data, in collaboration with TGS and BGP, suggest there is significant potential for future discoveries offshore.

The announcement will be made by Voahangy Nirina Radarson, Director General of OMNIS at 12.45 on Tuesday 6th November 2018 in the NOC Prospect Forum, Meeting Room 4. Lunch will be provided.

Highlights:

  • Blocks: 44 offshore blocks in the Morondava Basin, located on the western margin of Madagascar
  • Timing: The Round is open from 7 November 2018 to 30 May 2019, followed by a three-month awarding period
  • Roadshows: Will be held in Houston on Tuesday 19 February 2019, and in London on Tuesday 26 February 2019
  • Data access: Existing seismic and well data will be available for viewing at the TGS offices, in London and Houston; data packages will also be made available for clients
  • Madagascar has a prolific geology and a diversified portfolio of exploration and production opportunities. We strongly believe that the 2018-2019 promotional campaign will mark the intensification of exploration activities in Madagascar.

For more information please contact info@madagascarlicensinground2018.com or go to www.madagascarlicensinground2018.com.

About the Companies

OMNIS' Mission is to implement the national policy on oil and mining exploration and exploitation; to value basic geological data; and to foster partnerships with foreign oil and mining companies.  Their activities include: Partnership development; Technical and administrative assistance; Provision of pre-requisite data for oil exploration, mines and uranium mines in Madagascar; Technical and administrative follow-up; Audit; Drilling; Mineralogical processing and analyses; Biostratigraphic, stratigraphic and sedimentological studies; Geochemical and physicochemical analyses (Coal, Jatropha and Hydrocarbons).

BGP is one of the world's leading geophysical service companies, delivering a wide range of technologies, services and equipment to the oil and gas industry worldwide. BGP is engaged in seismic data acquisition, processing, interpretation, reservoir geophysics, borehole seismic, micro-seis mic, GME and multi-client surveys, equipment manufacturing and software R&D.      

About TGS

TGS provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions.

All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

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Sven Børre Larsen

Chief Financial Officer

Tel: +47 90 94 36 73

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Will Ashby

Vice President HR & Communication

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