European independent Mediterranean Oil and Gas (MOG) has been granted an extension period for its deepwater assets offshore Malta to allow more time for exploration drilling.
MOG said a six month extension has been secured from the Maltese government for a Production Sharing Contract covering Area 4, encompassing offshore blocks 4,5 6 and 7 south of Malta. The extension means the exploration period will expire in July this year.
Drilling on the Hagar Qim 1 prospect within the PSC, where the water depth averages 450 m (1,640 ft), is due to be carried out by MOG in partnership with Genel Energy commencing in the first quarter of this year using the Noble Paul Romano deepwater semisubmersible.
AGR Well Management will be providing support services for the exploration well.
Phoenicia Energy, a Genel subsidiary, holds 75% in the PSC area, and Melita Exploration, an MOG subsidiary holds the remaining 25% equity.
Maltese company Medserv Operations Ltd. has a contract to provide logistical base services to support the rig and all equipment required for the Hagar Qim 1 well – which is targeting a 109 MMbbl prospect in a Lower Eocene/Paleocene reservoir at a depth of 2,500 m (8,200 ft).
Recommended Reading
Stice: Diamondback’s Small Company Culture Suits Big M&A Appetite
2024-05-01 - Diamondback Energy CEO Travis Stice tells analysts that the company’s nimble nature is among its top qualities, allowing for rapid growth and the successful integration of Endeavor Energy this year.
Enterprise Targets FID for SPOT Project by End of 2024
2024-05-01 - Enterprise Products Partners’ co-CEO disputed capex figures reported in the media regarding its Sea Port Oil Export Terminal.
SilverBow Makes Horseshoe Lateral in Austin Chalk
2024-05-01 - SilverBow Resources’ 8,900-foot lateral was drilled in Live Oak County at the intersection of South Texas’ oil and condensate phases. It's a first in the Chalk.
Comstock Adds Four Whopper Wildcats; Takes Western Haynesville to 450K
2024-05-01 - Comstock Resources' four newest wells, which IP’ed at more than 35 MMcf/d, were landed at up to 19,400 feet total vertical depth.
Analyst: Exxon Mobil, Pioneer Deal Close Likely ‘Imminent’
2024-05-01 - With approval from the Federal Trade Commission, Exxon Mobil could close its $59.5 million acquisition of Pioneer Natural Resources after more than six months of review.