Between 2011 and 2013, prospecting companies in Malawi were granted exploration licenses for six blocks where oil could be extracted and, in some blocks, production-sharing agreements were executed. The companies include RAKGAS Limited, Sacoil, Pacific Oil, and HAMRA Oil Holdings Limited among others. Malawi has oil prospects that exist in the Lake Malawi basins and Lower Shire. Notwithstanding, most oil and gas products are imported into Malawi such as petroleum. However, 10 years down the line, Malawi is yet to confirm if it can produce oil and gas now with 3 of the six oil companies relinquishing their prospecting licenses for various reasons such as coronavirus effects among others. However, Malawi remains a destination for oil and gas investors to conduct their exploration activities and determine if they are economically viable for their investments. This guide discusses Malawi’s oil and gas industry.
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