Ħaġar Qim is a magnificent example of megalithic architecture but shortly the prehistoric temple will lend its name to an oil well.

Situated out at sea, about 150 kilometres southward of the ancient site, the drilling of the deepwater oil well is expected to start in the final three months of this year.

The exact location of Ħaġar Qim 1, as the oil well will be known, will be determined after data from a seabed survey concluded last month is analysed.

In a recent operational update, Mediterranean Oil and Gas said the data would assist the operational team to determine the “most suitable location” for the well.

Mediterranean Oil and Gas is a minority shareholder in the company licensed by the Government to look for oil in Area 4, where a dispute over the offshore boundary with Libya was settled in the 1980s.

All equipment required for the drilling has now been procured

The oil rig tasked to drill the exploration well, the Paul Romano, will shortly start making its journey towards the site after undergoing maintenance work at the Palumbo shipyard.

The Paul Romano, a deep-water semi-submersible rig, tilted in port last month when a ballasting operation went awry. The rig has since been stabilised and over the weekend sailed outside Grand Harbour where it was moved on to the heavy lift vessel Dockwise Vanguard off the coast of Marsascala, which yesterday brought it back.

The rig will drill in water depths of about 450 metres and will target reservoirs at a depth of 2,500 metres.

The exploration well intends to spud a potential 109 million barrels, according to Mediterranean Oil and Gas, which said: “All equipment required for the drilling has now been procured and the logistics for the well are on track to be ready ahead of the anticipated spud date in Q4 2013.”

Area 4 has largely been overlooked in Malta’s oil exploration history. In 1993, Amoco had drilled Tama-1 and although the well gave indications that oil was present, it was not in commercially viable quantities.

Tama-1 was drilled in Block 3, to the west of blocks licensed to Mediterranean Oil and Gas, which will drill in unexplored zones.

The Government’s oil exploration unit lists two other companies with oil exploration licences.

These are Heritage Oil, which has a production sharing contract to explore for oil in Area 2 and 7 to the east of Malta, and Capricorn Malta, a subsidiary of Cairn Energy that has an exploration study agreement for Area 3 to the north.

Around half the area designated for oil exploration is unlicensed.

Soon after taking office in April, Infrastructure Minister Joe Mizzi said the Government wanted to open oil exploration in seven areas on the island’s continental shelf, with drilling companies showing a high level of interest.

In three months’ time, Mr Mizzi and Energy Minister Konrad Mizzi will be attending an oil and gas summit in Italy that will focus on the exploration potential of the neighbouring countries.

Malta and Italy have a long-standing dispute on the delineation of the continental shelf in the Malta-Sicily channel. The issue was raised during a recent visit in Rome by Prime Minister Joseph Muscat, who said both sides were committed to find a lasting solution.

ksansone@timesofmalta.com