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ExxonMobil has ended its oil exploration in Madagascar after disappointing findings in its off-shore blocks, the Malagasy Mining and Petroleum Minister said on Friday.
The U.S. company had no immediate comment.
Exxon’s affiliates resumed exploration in Madagascar in 2013 after a four-year pause due to a force majeure declared after the 2009 coup on the Indian Ocean island.
“Exxon has left Madagascar because it was not convinced by the potential of the oilfield,” Minister Joeli Valerien Lalaharisaina told Reuters.