Offshore staff
LONDON --Leni Gas & Oil has agreed with Malta Oil to farm into 20% of four blocks between Maltese and Libyan waters.
Collectively, these blocks cover an area of over 5,000 sq km (1,931 sq mi), known as Area 4, with water depths averaging around 500 m (1,640 ft). Studies to date have revealed nine potential exploration prospects.
The largest is Luzzu, identified last year, with estimated oil in place of up to 2.42 Bbbl. To the southeast, Tarxien, which has been covered by 3D seismic, has an estimated 295 MMbbl in place. Leni plans to fund a new 2D and 3D survey over the blocks this year, including 3,000 line km (1,864 mi) of 2D seismic, with a view to identifying drillable prospects by early 2008.
4/20/2007
