Project Profile
Value: Undisclosed
Location: Offshore Area 4, Blocks 4, 5, 6 & 7
Area: 5,700km2
Start-up Year: -
The blocks cover an area in excess of 5,700km2 and are within an agreed and internationally recognized boundary with Libya. Petroleum potential is related to Tunisian and Libyan fields. The blocks are prospective for Early Tertiary and Cretaceous targets.
The area (undrilled to date), shows important analogies with the surrounding, well known, offshore Tunisia and northern Libyan petroleum provinces: in fact, sources, reservoirs and seals, similar in age and characteristics to those known in Tunisia and Libya, appear to have been likely developed also in part of the study area. Offshore Area 4 was initially owned by Leni Gas (10% interest), Genel Energy (75% interest) and Mediterranean Oil & Gas - MOG (15% interest) but is currently owned 100% by MOG through its wholly owned subsidiary, Phoenicia Energy Company (PECL). PECL entered into a farm-out agreement with Genel Energy in August 2012 to sell 75% of PECL’s interest in Area 4. This farm out is conditional on approval by the Maltese authorities, together with the grant of a minimum one year extension of the first exploration period of the Area 4 Production Sharing Contract.
Operator:
Mediterranean Oil & Gas: Operator with 25% interest
Genel Energy: 75% interest
Contractors:
AGR Well Management: Provision of drilling engineering and rig procurement support
ERC Equipoise: Evaluation of the identified traps
Fugro-Geoteam Pty Ltd: Undertake the acquisition of 1,000 square kilometres of long offset 3D seismic exploration data
Noble: Drilling using Noble Paul Romano (DW semisub)