Petromad was created in 2005 in Houston Texas by Dr. Roseline Emma Rasolovoahangy to develop and produce the hydrocarbon reserves of Madagascar, although it is very important to the economic development of the country and could lift millions of Malagasy out of poverty, up to date largely remain intact.
PetroMad was awarded a 10,160 sq km onshore block 3114 and signed the Production Sharing Contract (“PSC”) with Madagascar Government on October 23, 2006. The license became effective on July 09, 2007.
PetroMad is the operator of the Block 3114 and has 100% interest in the block. PetroMad is at the last phase of the exploration period. The remaining work program to complete prior to starting production period are drilling 3 exploration wells.
We believe PetroMad represents one of the best opportunity late stage oil & gas exploration available in onshore Madagascar.
There are 225 offshore and onshore blocks in Madagascar. These have attracted foreign oil investment including Exxon Mobil, Sterling Energy, Vanco Energy, Total, Marex, Sapetro, Essar, Tullow, Sinopec, Aminex, Pura Vida, Madagascar Oil, etc.
Block 3114 is a 10160 sq km onshore block that is highly prospective for conventional oil in Morondava Basin South-West of Madagascar. Block 3114 is interpreted to have the right source rock, good reservoir development, adequate seals, and diverse structural traps.
PetroMad’s independent technical expert, MHA Petroleum have reported that block 3114 has significant potential for the discovery of large light oil accumulation and is on trend with significant neighboring oil discovery.
Located immediately to the North East of block 3114, Sunpec had discovered a major oil reservoir estimated to contain approximately 2.0 Billion Barrels of unrisked oil in place.
Block 3114 is located four hours from the port of Tulear
Block 3114 has seven leads, among which are three major reservoirs (1/3):The Ambatry reservoir
Mapped as a faulted anticlinal structure. The company priority Ambatry reservoir alone has been estimated by RPS Energy to contain between 211.2 MMBLS (P90) to 2480 MMBLS (P10).
Block 3114 has seven leads, among which are three major reservoirs (2/3):Bezaha reservoir
Identified as a structure trap, with estimated MEAN oil reserves of 304.6 millions bbl (P50) and was drilled by SPN in 1952 with oil show. It is located south of Sino Energy’s SKL-2 multi-billion barrel discovery well
Block 3114 has seven leads, among which are three major reservoirs (3/3):Tongobory reservoir
Identified as a structure trap, located south of the TCF natural gas discovery by Madagascar Southern Petroleum
Dr. Emma Roseline RASOLOVOAHANGY has +25 years of experiences in oil & gas exploration and management in countries around the world. Dr. Emma was employed by VRMT International, Anadarko Petroleum, and Shell Exploration & Production prior to the founding of PetroMad. Dr. Emma as CEO, President, and Founder of PetroMad has the practical experience and local knowledge of exploration and management in Madagascar to take effective action that will contribute to the successful exploration of Block 3114. Dr. Emma, originally from Madagascar, has six degrees: a Bachelor’s, four Master’s, and a Doctorate in Geophysics from Stanford University. Dr. Emma’s PhD These focused on advanced rock physics study and reservoir characterization of typical reservoirs sands and rocks in Madagascar.