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).

Offshore