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


MOG Details 2013-2014 Drilling Plans

change text size

Italy-focused Mediterranean Oil & Gas (MOG) issued an update on its operations Tuesday in which it detailed its drilling plans for the rest of 2013 and 2014.

MOG said that moving its resources into reserves and production is a key objective for 2013. With some 500 million barrels of oil equivalent (boe) in prospective resources, the firm aims to add significantly to its proved reserves of 14 million boe and proved and probable (2P) reserves of 30 million boe.

MOG pointed out that it was making progress in achieving the award of the Ombrina Mare Production Concession by the end of 2013, and is preparing for the pilot development well on the concession to be drilled during the first half of 2014. The well will target moving contingent resources to 2P reserves.

Elsewhere in Italy, the firm is working towards drilling the Faseto 1 onshore prospect, targeting some 2 billion cubic feet of gas net to the company.

Meanwhile, offshore Malta MOG, with its partner Genel, plans to drill the Hagar Qim 1 exploration well that is targeting some 109 million boe of un-risked prospective resources (27 million boe net to MOG). The well is scheduled to be drilled during the fourth quarter of 2013.

MOG ended 2012 with net cash of $11.4 million (EUR 8.7 million), which has been strengthen thought the addition of $10 million from its new partner in its Maltese licenses Genel.

Have a news tip? Share it with Rigzone!


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
Rigzone Staff
e-mail us at
 -  Sound Oil Begins Drilling Second Nerve... (Apr 24)
 -  KrisEnergy Starts Drilling Rayrai-1 in... (Apr 24)
 -  Cosco Dalian Bags MODEC's $95M FPSO Co... (Apr 23)
 -  TGS's Revenues Fall Due to Decline in ... (Apr 23)
 -  Lundin Says 1Q Profitability Affected ... (Apr 22)
Most Popular Articles
From the Career Center
Jobs that may interest you
Technical Director
Expertise: Drilling Engineering|Maintenance Manager|Technical Manager
Location: Houston, TX
Maintenance Mgr-Rotating Equipment
Expertise: Drilling Engineering
Location: Lake Charles, 
Commissioning Mgr
Expertise: Drilling Engineering
Location: Houston, 
search for more jobs