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 Acquires Offshore Malta Area 3 Interest

change text size

Mediterranean Oil & Gas (MOG) reported Wednesday that it has acquired a 40-percent interest in the Exploration Study Agreement covering Blocks 1, 2 and 3 of offshore Malta Area 3 alongside Cairn Energy.

Area 3 is located north of Malta in the Sicily Channel and covers an area of approximately 2,460 square miles. The two-year ESA includes geological studies, the reprocessing of existing 2D seismic data, the acquisition of new 2D seismic data and a limited amount of capital works. The ESA also provides the right to negotiate a production sharing contract and it can be extended to a third year to acquire 3D seismic data.

MOG Chief Executive Dr Bill Higgs commented in a company statement:

"We are very pleased to have completed this transaction with Cairn.  This enables us to expand our footprint offshore Malta ahead of our exploration drilling in Area 4 later this year as MOG continues to geographically diversify exploration activities and capital spend. We look forward to working with Cairn to evaluate the exploration potential of Blocks 1, 2, and 3 of Area 3, which we believe could mirror the exploration opportunities demonstrated elsewhere in the Sicily Channel."

 

 



Have a news tip? Share it with Rigzone!
Email news@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
Rigzone Staff
e-mail us at news@rigzone.com
 -  Shell Agrees Sale of Norwegian Downstr... (Dec 18)
 -  Independent Gets Cronx Extension (Dec 18)
 -  Det norske Appoints New Head of Projec... (Dec 18)
 -  Rose is Granted Utah Drilling Permit (Dec 18)
 -  Solo Oil Purchase of Tanzanian License... (Dec 17)
Most Popular Articles
From the Career Center
Jobs that may interest you
Project Manager
Expertise: Construction Manager, Project Engineer, Project Management
Location: Billings
 
Strategic Account Manager
Expertise: Business Development
Location: Oklahoma City, OK
 
Project Manager
Expertise: Project Management
Location: Houston, TX
 
search for more jobs