Medserv has won the contract for logistical services for the drilling of an exploration well offshore Malta – the first since 2002.
The contract was awarded by Genel Energy Petroleum Services Ltd and is for one well initially, with an option to extend for a further one well.
“We are thrilled with the news,” said Medserv chairman Anthony Diacono. “It is an honour to be able to work on a project on home turf. This is an excellent opportunity for Malta and we are excited that we are able to play a small part in this.”
The contract entails the provision of logistical supply base services, transport-ation and associated services. Medserv will also provide all equipment, materials, personnel and all other items necessary for the provision of the services to Genel Energy.
In 2012 Genel acquired a 75 per cent participating interest in Mediterranean Oil and Gas plc’s (MOG) licence interests in Area 4 in offshore Malta, within the Medina Bank area in water depths of around 500m.
MOG had entered into a production sharing contract with the Maltese Government in July 2008, but following delays, the deadline for its first explor-ation period was extended to January 2014.
The area has already been assessed through 3D seismic surveys and prepar-ations for the drilling of the first well in the first quarter of 2014 are progressing. Genel is targeting 250 million barrels, according to company estimates.
A total of 12 wells have been drilled in Malta over the past 50 years.