Mali authorises company to carry out oil search

Bamako, Mali (PANA) – The Malian government at its weekly cabinet meeting on Wednesday adopted a decree approving the search for oil in the north of the country.

Corvus Resources Management Limited has been allocated block 6 of the Taoudéni basin in far North of the country for research, exploitation, transport and refining of oil and gas.

Sources said on Thursday that the Malian government signed a convention with Corvus Resources Management of Cayman islands, within the framework of the promotion of research and exploitation of hydrocarbon to promote Mali’s economic development.

At the close of the four-year agreement, the company would sink US$35 million, or about 17.5 billion CFAF, into their work.
-0- PANA GT/AAS/IBA/MSA/MA 11July2013