Advertisement

Mediterranean Oil & Gas granted one year extension on contract

Mediterranean Oil & Gas has been granted a one year extension of the first exploration phase of the production sharing contract with the government of Malta for offshore area four.

Mediterranean Oil & Gas has been granted a one year extension of the first exploration phase of the production sharing contract with the government of Malta for offshore area four.

The licence, which is wholly owned by the group, has been extended to January 2014.

Chief Executive of Mediterranean Oil and Gas, Dr Bill Higgs, said: "We welcome the support we have received from the Maltese Authorities. We are progressing plans that will enable us to test the first Prospect with the drill bit by the end of 2013 and we are on track to finalise the shareholding arrangement by which Genel Energy will join us in exploring Area 4.

Advertisement - Article continues below

"We intend to start awarding drilling related contracts early in the New Year, including contracting of a drilling rig for the operations."

NR

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

OBR: UK house prices could fall by 12% next year
House prices

OBR: UK house prices could fall by 12% next year

The Office for Budget Responsibility says UK house prices could fall by as much as 12% next year. John Stepek looks at how likely that is.
14 Jul 2020
Three ideas for Lloyds Bank's new boss
UK stockmarkets

Three ideas for Lloyds Bank's new boss

The Black Horse needs whipping into shape. A change at the top provides a great opportunity, says Matthew Lynn.
12 Jul 2020
We’re spending more than at any time since World War II – how will we pay it back?
UK Economy

We’re spending more than at any time since World War II – how will we pay it back?

With the UK spending vast sums on stimulus measures, this year’s budget deficit will be greater than at any time since World War II. The big question,…
14 Jul 2020