Calamatta Cuschieri report on 02/10/2013: Genel Energy Petroleum Services Limited has awarded Medserv Operations the contract for the provision of logistical supply base services, transportation and associated services in relation to the drilling of an exploratory oil well offshore Malta.
The contract is effective from October 1 and it covers one well for an initial duration of up to 120 days with an option for extension to a second well.
In May, Mediterranean Oil & Gas reached agreement with Genel Energy to use the deep-water semi-submersible drilling rig "Paul Romano" to drill the well in Area 4 south of Malta later this year.
The Paul Romano will drill the Hagar Qim 1 exploration well in water depths of approximately 450 metres and will target reservoirs at a depth of approximately 2,500 metres.
The company said the area has prospective resources in the Lower Eocene/Paleocene of 109 million barrels of oil equivalent. The Paul Romano is undergoing a five-year class survey in Malta.
(Source: Times of Malta)