Oil exploration and production contract signed

Four offshore blocks totaling 5715 square kilometers were awarded by the Government of Malta to the oil company Malta Oil Pty Limited this afternoon for the exploration and production of oil and gas under a Production Sharing Contract. The company is a subsidiary of Mediterranean Oil & Gas Plc with head office in Perth, Australia, and operations in the Mediterranean region including Italy, France and Tunisia. The Minister for Resources and Rural Affairs George Pullicino signed the contract on behalf of the Maltese Government. He is the Minister in charge of oil exploration. The offshore areas granted are Blocks 4, 5, 6 and 7 of Area 4, located to the south of the island. The blocks were initially assigned to the company in March 2005 under an Exploration Study Agreement (ESA). During the term of the original agreement the... [read full story]