Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

MOG Details Ombrina Mare Drilling Plans

change text size

Italy-focused Mediterranean Oil & Gas (MOG) highlighted its drilling plans for its Ombrina Mare and Maltese assets as the firm reported a first quarter update Friday.

After a positive ruling on MOG's submission of its environment impact assessment (EIA) for Ombrina Mare offshore development, the company has commissioned ERC Equipoise to complete by June a competent persons report detailing the reserves and resources in the field. MOG then plans to drill a pilot development well in the first half of 2014.

Meanwhile, MOG has made progress in Malta with the completion of its farm out to Genel Energy and the appointment of AGR Well Management for the drilling of the Hagar Qim 1 well.

MOG achieved net gas production of some 3.9 million cubic feet of gas per day during the first quarter, with 3.34 million cubic feet per day coming from its offshore Guendelina field. Guendelina well GUE-2ss – which accounts for 30 percent of the field's production – was taken offline on March 5 in order to find out what had caused an influx of water. MOG and its partner Eni (the operator) are analyzing possible remedial work so that the well can be restarted.

Analysts at London-based investment bank Liberum Capital commented that the shut-in "appears temporary and recoverable reserves should be unaffected".

Commenting on the update Friday, MOG Chief Executive Dr Bill Higgs said in a statement:

"We have had a busy start to what is going to be an important year for MOG as we gear up for the drilling program in Malta in Q4 2013 and as Ombrina Mare appraisal drilling draws nearer. We are financially strong and continue to build our cash position from production."



A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

More from this Author
Jon Mainwaring
European Editor | Rigzone.com
 -  Key Oil, Gas Figures Welcome Scotland'... (Sep 19)
 -  Falkland Oil and Gas Makes Progress Ah... (Sep 16)
 -  One Millionth Barrel Delivered from Ar... (Sep 15)
 -  Inside GE's New Technology Solutions C... (Sep 12)
 -  BP, Shell Urge Scotland to Vote agains... (Sep 11)
Most Popular Articles
From the Career Center
Jobs that may interest you
Deepwater Drilling Engineer
Expertise: Drilling Engineering
Location: Houston, TX
 
Field Professional-Multilateral Tools, II
Expertise: Production Engineering
Location: Houston, TX
 
Senior Completions Engineer
Expertise: Petroleum Engineering, Workover or Completion
Location: Houston, TX
 
search for more jobs