Mediterranean Oil & Gas signs well management agreement

Mediterranean Oil & Gas has reported ‘continued progress’ in its preparations for the arrival of the ‘Hagar Qim 1’ well offshore Malta in the final quarter of 2013.

Drilling on Hagar Qim 1 well offshore Malta is expected to start in the final quarter of 2013.
Drilling on Hagar Qim 1 well offshore Malta is expected to start in the final quarter of 2013.

The latest development is the signing of a service order with AGR Well Management for the provision of drilling engineering and rig procurement support.

MOG chief executive Bill Higgs said that the company "is 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."

Higgs added that "AGR has a proven track record of providing drilling support services to operators conducting exploration drilling activities."

MOG also said it expects the sale of 75% stake in the holding company for the Malta Offshore Area 4 licence to ambitious mid-cap Genel to complete at the end of the month following sign-off by Britain's HM Revenue & Customs.

"The closing of the transaction with Genel will enable our team to fully dedicate its time to preparing for the drilling operations offshore Malta," Higgs added.

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Luke Camilleri
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