Project Profile
Value: US$551,000 (Licence Fee paid for 2015)
Location: Sicily Channel, offshore Area 3, Malta
Area: 2,300 square miles
Start-up Year: -
Cairn, in December 2012, entered into a three-year exploration study agreement (ESA) with the Government of Malta for Area 3, which is located in the Sicily Channel and covers an area of approximately 2,300 square miles. Mediterranean Oil & Gas (MOG) later joined the consortium with 40% interest, before it was itself bought out by Rockhopper Exploration in 2014. The Exploration Study Agreement (ESA) lapsed following a one-year extension in December 2016, when Rockhopper informed Cairn it would not be proceeding with any further investment. The pair acquired 1,715 km of broadband 2D seismic covering the blocks. Cairn paid the government of Malta US$551,000 for license fees to operate Block 3 in 2015.
Operators:
Cairn Energy : 60% (Operator)
Rockhopper Exploration - 40% interest (withdrawn)
Updated by [CC]