Paul Romano mobilises to Malta well

On its way: the semi-submersible Paul Romano

London-listed Genel Energy is preparing to spud an exploration well to the south of Malta, with the semi-submersible drilling Paul Romano on its way to Block 7 of Area 4.

Block partner Mediterranean Oil & Gas revealed on Tuesday the rig was sailing towards to the Hagar Qim-1 well location, with Genel’s wholly-owned subsidiary Phoenicia Energy having accepted the semisub under contract on 18 May.

Genel signed the rig on contract from owner Noble in May last year and it was scheduled to start work in the fourth quarter of 2013, however an extended shipyard stay meant the spud date was pushed back.

The Hagar Qim-1 well is being drilled in a water depth of 450 metres, to a depth of 2500 metres, and will target a prospectiveproven and probable resources of 87 million barrels of oil in Lower Eocene and Paleocene reservoirs.

Following the completion of the well, Genel is likely to move the Paul Romano to the Sidi Moussa licence off Morocco to target Mid-Jurassic and Lower Triassic reservoirs at the Nour prospect.

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