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National Oil Company Announces Commercial Oil Discovery in Lake Malawi

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wisdom01

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National Oil Company Announces Commercial Oil Discovery in Lake Malawi
In a development with potential to reshape the nation's economy,the National Oil Company of Malawi (NOCMA) announced on December 26 that exploratory drilling in Block 2 of Lake Malawi has confirmed commercially viable oil reserves. The discovery, made by the partner rig Chambo Explorer, is preliminary, but seismic data suggests a significant reservoir. NOCMA's CEO, Helen Buluma, cautioned that years of appraisal drilling and feasibility studies are needed before production can begin.
 
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