| Malta - Southern Offshore
Area 5, Area 4 Block 3 (80%) |
Joint Venture partners: Anadarko International Energy Company, Sun Resources (20%).
The total area of the Malta project is approximately 14,800 sq. km. The JV has identified a number of large carbonate reef features geologically similar to those hosting producing oil and gas fields in neighbouring offshore Tunisian and Libyan waters.
Two main prospects have been identified, Chianti and Limoncello, mapped from 2004 vintage seismic. These leads are located in shallow water and potentially have world class oil reserves. There is extensive infrastructure in the region with major European markets nearby.
Anadarko has agreed to undertake a seismic survey to delineate these prospects and optionally drill one exploration well to earn 65%, with the option to increase earnings by a further 10% by drilling a second well. The area is currently subject to boundary discussions between Malta, Libya and Tunisia, however the main prospects are in an area only ever claimed by Malta.
