Madagascar’s oil potential has lead to hopes for development following the opening of an ExxonMobil operation on Friday. It is believed that the NW coast could have as much as 7-10 billion barrels of oil. Drilling for this source has been proposed to be as early as 2007, which would see the development of the 1st deep water well off Madagascar.

All of this does mean the poverty stricken island of Madagascar, with ¾ of it’s population of 17 million living on under $1/day, will face tough challenges to avoid succumbing to the pressure that other African oil nations are currently experiencing.

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Posted by Blue Ventures

Blue Ventures is an award winning marine conservation charity. We rebuild tropical fisheries with coastal communities. On our Beyond Conservation blog you can hear voices from the front line of marine conservation written by our staff and volunteers.

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