Mediterranean Oil & Gas contracts with AGR to drill Malta well

Malta Offshore Area 4 (Image: Mediterranean Oil & Gas plc)

Mediterranean Oil & Gas Plc. (LON:MOG) is continuing its preparations for the arrival of the Hagar Qim 1 well off Malta in the final quarter of the year.

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

Chief executive Bill Higgs said: "We are 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.

“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 license to ambitious mid-cap Genel Energy PLC (LON:GENL) to complete at the end of the month following sign-off by 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.