Essar Exploration & Production Ltd, EEPL, part of Essar Global Limited, has commenced work on its three onshore exploration blocks in Madagascar with the commissioning of airborne survey. EEPL has appointed Fugro Airborne Services Limited, Mauritius to acquire 12,000 kilometres of airborne Gravity & Magnetic data in these blocks over the next 6-8 weeks. This will enable EEPL to interpret the sub-surface geology in the area.
Fugro is the market leader in this specialized field and have successfully conducted similar surveys in Madagascar. This is the largest ever Air borne Survey in Madagascar for Oil & Gas exploration by any operator.
The survey was launched from the Fugro base in Tolagnaro on June 26th 2008 to coincide with Independence Day of Madagascar to pledge its support to not only reach self sufficiency in Petroleum products, but also export to neighbouring countries.
EEPL was awarded three blocks covering 30,000 square kilometres in the Morondava basin through the open bidding round.
The work programme for the three blocks, in which Essar has 100% Participating Interest, includes Reprocessing of 2D-Seismic data (which has already been completed), Airborne Gravity & Magnetic Survey, 2D / 3D Seismic data API and Drilling of wells in the First phase as jointly agreed with OMNIS for which EEPL has planned an investment of USD 15 million.
Essar’s Construction division was recently awarded a US$56 million nickel slurry pipeline project in Madagascar, to be executed within a challenging time period of 13 months. The pipeline will transport nickel ore in the slurry form from Ambatovy Nickel Cobalt Mining Ore to the port of Taomasina from where it will be exported.
The Essar Group is also exploring several other business opportunities in Madagascar and is keen on increasing their presence in the country.
Essar Global Limited (EGL) is a diversified corporate group with businesses in the manufacturing and services sectors of Steel, Energy, Power, Telecommunications, Shipping, Ports & Logistics, Mining & Mineral Resources, and Construction. EGL has a firm value of approximately US$50 billion and employs 38,000 people worldwide. More than 15 percent of Essar’s workforce is in the Americas.
Essar Energy operates a fully integrated oil company of international size and scale in India. Its assets include development rights in proven oil & gas blocks in onshore and offshore India, Vietnam, Madagascar and Nigeria, a 12 million tons per annum refinery, currently being expanded to 34 million tons per annum, and over 1,500 fuel stations across India. Plans are under way to increase exploration acreage, further acquire / build oil refineries internationally, and open a total of 5,000 fuel stations.
