Mali’s potential for oil and gas is very promising and could well be a game changer, despite the country having no established reserves worth commercial exploitation.
What is the history of oil exploration in Mali?
From the seventies and early eighties, more than 9,000 kilometers of exploration was undertaken in Mali through 2D-seismic studies. Oil exploration took place in Mali until 1983, when the Taoudeni Basin was declared ‘burnt out’ by the exploration company Esso.
Does Mali have oil?
Mali’s Taoudeni basin has seen increased oil exploration activity since 2004. Though Mali is mineral rich, it does not have any established oil or gas reserves worth commercial exploitation, as stated in the passage. Recent instability and the threat to oil wells has prompted foreign military powers to intervene.
Which Algerian oil company has interest in the Taoudeni Basin?
Sonatrach, the Algerian national oil company, has interests in the Taoudeni basin and explorations in the North of Mali. Sonatrach has promised investment worth US$ 11.5 million in the next four years. Selier Energy: The Canadian Company also has interests in block 18, an area of 19,259 square kilometre in Macina Graben in the Taoudeni basin.