Genel, MOG Achieve Agreement on Maltese Extension
Junior explorer Mediterranean Oil & Gas (MOG) reported Thursday that it and its partner, Genel Energy, have reached an agreement with the Government of Malta for a six-month extension to the production sharing contract that covers Area 4 Blocks 4,5,6 and 7.
The extension will give the contractors to the PSC sufficient time to complete the exploration drilling activities that are scheduled to start during the first quarter of 2014. With the extension, the expiry of the first exploration period for the PSC is now July 17 2014.
MOG Chief Executive Dr Bill Higgs commented in a company statement:
"We appreciate the continued support of the Maltese Government as we prepare to drill the Hagar Qim 1 exploration well with our partner Genel Energy.
"The first half of 2014 will be an important time for the company with the drilling of two exploration wells; one offshore Malta Area 4 and one onshore Italy. This increased activity is an important step forward for the company."
WHAT DO YOU THINK?
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.
- Rockhopper 'Well Placed' to Take Advantage of Low Oil Price (Sep 15)
- Hagar Qim Rig Completes Drilling (Jul 09)
- Eni Sees Further Problems at Guendalina Field (Jun 19)
Company: Genel Enerji A.S. more info
- Genel can 'Plan with Confidence' in 2017 after KRG Payment Promise (Jan 24)
- KRG Delivers Payments to Genel, DNO, Gulf for Tawke, Shaikan Production (Jan 23)
- AkerBP, Cairn Energy Make Jefferies Top Pick List (Jan 09)