• Subscribe
  • Magazine
  • Videos
  • Webcasts
  • Events
  • About Us
  • Exclusive Content
  • Best Places to Work
    1. Drilling & Completion

    Genel Energy writes off Malta, Angola, Morocco programs

    Jan. 27, 2015
    Genel Energy says it will pull out of its drilling programs offshore Malta, Angola, and Morocco and record a non-cash exploration write-off of around $480 million in its 2014 accounts.

    Offshore staff

    LONDON –Genel Energy says it will pull out of its drilling programs offshore Malta, Angola, and Morocco and record a non-cash exploration write-off of around $480 million in its 2014 accounts.

    The Hagar Qim-1 well on the Area 4 license offshore Malta was drilled to the Eocene before being P&A’d with no indication of hydrocarbons.

    TheNoble Paul Romanothenmoved to the Nour prospect where the well targeted prospective resources of 300 MMbbl at a 20% probability of success.

    In June 2014, theStena Carronspudded an exploration well on the Dilolo prospect in block 39 offshore Angola.

    All prospects were P&A’d by the company and its respective partners after failing to encounter pay or continuous flow.

    01/27/2015