Madagascar Drilling in ‘07

ExxonMobil reportedly sees exploratory drilling operations off the northwest coast of Madagascar getting under way in 2007, Reuters reported. The oil giant has interests in four blocks along the Indian Ocean island's northwest coast. Exxon has a 50 percent stake in the Majunga block while 30 percent is owned by UK gas firm BG Group Plc and 20 percent by South Korea's top oil refiner SK Corp.