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Explorer Mediterranean Extends Maltese Project

(Source: webtranslations)
(Source: webtranslations)

Mediterranean Oil & Gas has received an extension for its exploration programme of the island nation of Malta.

The exploration period will now run until January 2014, the company said.

As anticipated earliert this year, December marks the start of drill testing in the Area 4 PSC licence. The licence is owned 100% by MOG through its subsidiary, Phoenicia Energy Company Limited (PECL).

 The  exploration company  has gas and oil interests around Italy and in the south-west of France, but it has been conducting seismic studies in Malta since 2005.

Chief executive Bill Higgs said the Hagar Qim exploration project is being funded by former BP CEO Tony Hayward's Genel Energy.

For more on Mediterranean Oil & Gas, click here 

 

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