ExxonMobil to open office in Madagascar

ExxonMobil is to open an office in the Madagascan capital as it prepares to start drilling in two recently acquired offshore blocks, according to local sources.

Last July, ExxonMobil boosted its oil and gas presence in Madagascar by taking a 70% interest in two licenses held by UK's Sterling Energy.

It expects to have production of around 60,000 b/d in the next 3-4 years, much of it coming from offshore blocks on the northwest coast.

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