MOG gets more time off Malta

A referee's assistant holds up a sign to indicate a substitution

Extra time: MOG has been given a one-year extension on the first exploration phase of the Area 4 PSC

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Josh Lewis

 06 December 2012 09:21 GMT

UK junior Mediterranean Oil & Gas(MOG)  has been given more time for the first exploration phase for the production sharing contract covering the Malta Offshore Area 4.

The one-year extension will give MOG until January 2014 to complete its obligations under the first exploration phase.

“We are progressing plans that will enable us to test the first prospect with the drill bit by the end of 2013 and we are on track to finalise the shareholding arrangement by which Genel Energy plc will join us in exploring Area 4,” said MOG chief executive Bill Higgs.

“We intend to start awarding drilling related contracts early in the New Year, including contracting of a drilling rig for the operations.”

Genel entered a farm-in…

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