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Monday, February 18, 2013, 10:08

Company prepares to drill oil exploration well off Malta

Mediterranean oil and Gas, which holds a licence for oil exploration in Maltese waters, has signed a service order with AGR Well Management for the provision of drilling engineering and rig procurement support.

MOG in a company statement said it is continuing its preparations for the Hagar Qim 1 well offshore Malta in the final quarter of the year.

Chief executive Bill Higgs said: "We are continuing to prepare for the drilling of Hagar Qim 1 in late 2013 and we are pleased to be working with AGR on this important phase of the project.

“AGR has a proven track record of providing drilling support services to operators conducting exploration drilling activities.”

Hagar Qim will be drilled in Area Four, south of Malta.

Earlier this year, Mediterranean Oil and Gas was granted a one year extension to the first exploration phase of its Production Sharing Contract for Malta Offshore Area 4.

It is in the process of entering in a shareholding arrangement with Genel Energy for the project.

 

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W. Cassar

Feb 18th, 17:11

I can only hope you are right....maybe with Gaddafi out of the picture it will happen.

J Martinelli

Feb 18th, 17:12

Joseph Muscat may be celebrating and cutting ribbons sooner than late 2013.
He already has 1.128 billion in the kitty to celebrate with, earned by a prime minister who knows how to wrestle some EU budget officials and obtain an amount no other prime minister ever came close to getting for Malta.
Left in Scicluna's hands, the kitty will be empty before we know it. Isn't he OK with a 600 million PS?

A Trapani

Feb 18th, 12:56

once they did it after two years if i remember well

J Martinelli

Feb 18th, 17:21

Not this time Chris. Joe Mizzi knows exactly where the oil may be found and is waiting for Muscat to become Malta's youngest PM before he gives him a road-map, hopefully not the same one which leads to nowhere.
Where is Joe Mizzi, anyway? Joined the hidden clan and told to stay away from the emperor-to-be?
No podiums for the small fries.

J Martinelli

Feb 18th, 17:36

Drilling for oil is only propaganda for those who wish to use it that way. No company will ever declare success before they do strike oil. Ask companies in the business and all will tell you that they drill dozens of holes before they find a commercially viable well.
Drilling around election time has absolutely no significance.

C Cassar

Feb 18th, 12:20

yawn. The economy and opportunities don't stop just because of an election. Many of the comments posted continuously moaning that any good news is only due to the election simply show the immaturity and lack of education of those doing so. These people really shouldn't be allowed to vote as when they do they are likely to damage the future prosperity of Malta.

Tony Borg

Feb 18th, 12:26

@ C. Cassar. would you rather only have the landed gentry vote? Back to the past I see again!!

W. Cassar

Feb 18th, 12:49

Politics is subjective C. Cassar, some people are easily hooked by propaganda and new tarmac roads as well, you have no right to say who should vote or not. That is indeed a silly comment!

A Tonna

Feb 18th, 13:34

Mr Cassar, don't you see with your own eyes that roads are being scratched left, right and centre and probably they have used more tarmac in these last 6 weeks than the rest of the 5 years? Do you think that everyone is so stupid not to notice? And if you see TVM news? All the propganda for the government is all outside the slot dedicated to the election !!

John Benner

Feb 18th, 14:50

C.Cassar l find it extraordinary that you question the people's right to vote because they happen to have opposite views to yours ,you obviously don't believe in democracy ,we in the free world should cherish our vote ,and thankfully the day will never dawn when our vote depends on our educational background. My views were based as an outsider who cares for Malta with no political axe to grind .

C Cassar

Feb 18th, 15:46

@John Benner:

Nothing to do with opposite views but the constant purile and embarrassing comments constantly made. For example, many moan about how their local roads are terrible. When these are fixed they moan again. So what should be done, ban all infrastructure maintenance during election year? That's probably what some would like and that would explain why Malta is so far behind in Europe.

G. Cachia

Feb 18th, 12:48

Sur Mallia m'ghandniex ghalfejn insibu z-zejt biex "we all be living happy ever after" ghax ilna nghixu fil-gid ghal hafna snin.

Ahna poplu Nazzjonalist u Laburist li bil-bzulija taghna lkoll irnexxilna nghinu lil dawk li jiggvernaw bis-serjeta u jkollna sitwazzjoni ahjar minn ta' haddiehor ghal grazzja t'Alla.

Issa tivvota PN jew PL hija d-decizjoni ta' kull wiehed minnha.

A Trapani

Feb 18th, 12:58

"Quo vadis PN? No ideas, no substance, no direction!" I's say... Quo vadis Ian Ellul ?? vadis here if you wanna see ideas/substance and direction... http://www.mychoice.pn/MyFuture/ElectoralProgram/Overview

HENRY FENECH AZZOPARDI

Feb 18th, 11:32

@ Franco Abela and Victor Laviera.

What is so patetic and election go to do with news that drilling would start towards the last quarter of 2013. I would have agreed if they said that drilling starts this week.
Afterall you are so convinced of PL in government that you should be pleased that you will reap the dividends of such investments.

I cannot see any political advantage. Always moaning.

Mark Busuttil

Feb 18th, 12:18

Henry, may I ask you if you where here for the past 2/3 elections? ... I guess not!

A Trapani

Feb 18th, 13:00

Mark Busuttil, I was here for the past 6 elections.... your point? what has this good news to do with elections?

Lawrence Fenech

Feb 18th, 14:29

Franco ghandek ragun, imisshom habbru l'ahbar "The last quarter of 2013" u mhux 19 il gurnata qabel l'elezzjoni.

J.C. Borg

Feb 18th, 11:27

... and if oil is found the government after this election's government will benefit from it.

A Trapani

Feb 18th, 13:01

Victor, so in your wise opinion, Mr Bill Higgs should pause any effort on his business until the elections are over?

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