Phoenicia Energy Co. Ltd. informed Mediterranean Oil & Gas plc (MOG) that the Noble Paul Romano deepwater semisubmersible is moored in Valletta Harbor and is undergoing final inspection and acceptance tests before it begins drilling the Hagar Qim-1 wildcat in Block 7 of Area 4 offshore Malta. The rig is expected to be on location in May and drilling will commence soon after. It will take about 60 days to drill to a TD of 8200ft.
Hagar Qim is estimated to hold 109 MMboe in Lower Eocene and Paleocene sands. It is a large dip-closed prospect of ramp and reef carbonates analogous to the Ashtart field complex off Tunisia, and to the Intisar fields in the Sirte basin, Libya. The well is named for a megalithic temple complex (3600-3200 BC) on Malta, recognized by UNESCO in 1992 as a World Heritage site.
Jersey-registered Genel Energy plc operates the block through its 75% interest in Phoenicia Energy; MOG holds the remaining 25% interest.
Previous coverage:
Malta extension approved, 9 January 2014
Genel signs rig for Africa campaign, 1 May 2013
Mediterranean Oil & Gas contracts with AGR to drill Malta well, 18 Feb 2013
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