27th May 2014 10:14
LONDON (Alliance News) - Mediterranean Oil & Gas PLC said Tuesday it has been informed that the semi-submersible rig 'Noble Paul Romano' has been secured on location at the Hagar Qim 1 well in Malta by operator of Malta Block 7 of Area 4, Phoenicia Energy Company Ltd.
Mediterranean Oil & Gas said it has received formal notification from Genel Energy PLC's wholly-owned subsidiary, Phoenicia Energy Company - the operator of Malta Block 7 of Area 4 - that the semi-submersible rig has been secured on location and that the Hagar Qim 1 well spudded at 08:00 hours on May 24, 2014.
The well, located approximately 130 kilometres south of Malta in around 450 metres of water, is anticipated to take a minimum of two to three months to complete operations, said MOG.
The Hagar Qim well is the 11th well to be drilled offshore Malta. The last exploration well that was drilled was the Lampuko well in 2002.
Shares in Mediterranean Oil & Gas were trading 1.25% higher at 6.7075 pence per share Tuesday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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