Madagascar Oil Says Dispute With Government Over Tsimiroro Block Resolved

Madagascar Oil SA (MOIL) said a dispute with the government that halted work on the Tsimiroro block had been resolved. The government of the African island has acknowledged the validity of the block’s production sharing agreement, the company said in a statement today.

The work program for 2011 and 2012 has been approved and the government agreed Madgascar Oil had the right to extend the PSC until 2014, the company said.

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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