Albion Energy Malta Limited, a company fully owned by Jersey-based Albion Energy Limited, has been awarded an exploration licence by the Government of Malta for offshore Areas 2 and 7 located southeast of the Maltese Islands and totalling approximately 18,000 square kilometres.
The exploration study agreement has a duration of two years with a possibility of being extended by a further two years subject to an additional work programme.
The work obligations for the first two years consist of geological and geophysical studies on existing data.
Albion Energy’s CEO, Tony Buckingham, previously led Heritage Oil, which was granted an oil exploration licence for the same two zones in 2007. Those efforts ultimately proved unsuccessful.
Document tabled in Parliament last year showed there were no active licences for fossil fuel exploration at the time, although Finance Minister Clyde Caruana stated in December that the Government is considering a proposal before it.
Hotel guest numbers skyrocket in Q2 year-on-year
The largest number of guests in Q2 was reported in 4-star hotels, with 363,173 guests
Melita launches new connectivity solutions
The company says that this offer has been designed for those visiting Malta for shorter periods of time
Government could spend €80 million more than last year to keep consumer energy prices stable
Finance Minister Clyde Caruana says the way things are evolving suggests energy prices will rise further