Oil exploration on Malta-Tunisia agenda
by Paul Cachia - pcachia@di-ve.comLocal News -- 24 March 2009 -- 18:50CEST
Oil exploration is one of the topics to be discussed in the coming 2 days during the setting-up of the Malta-Tunisia mixed commission.
Speaking during the launching of the Malta-Tunisia mixed commission, Deputy Prime Minister Tonio Borg said that he is “envisioning room for more intense development in the agreed implementation of the proposed joint exploration of hydrocarbon resources in Maltese-Tunisian tangential maritime areas in the true spirit of the 2006 Agreement”.
In 2006, Malta and Tunisia signed a joint exploration agreement and the two countries had to map out the zones of the continental shelf were joint exploration could be carried out.
Last October, Leni Gas & Oil, one of the companies currently exploring for oil in Malta, said that it was likely that there are around 5 billion barrels of oil in the area of exploration, of which almost 1.5 billion barrels would be recoverable.
Its latest quarterly report for 2008 said that no exploration work has been carried out since then, since the Maltese government is still discussing joint boundaries with Tunisia and Libya.
Developments in the energy security sector, challenges for public health and opportunities in the maritime transport are also on the agenda.
Deputy Prime Tonio Borg said that the Mixed Commission is also viewed as an excellent opportunity to gauge niche market opportunities.
Dr Borg claimed that Malta has initiated the process of the EU-League of Arab States dialogue which led to the EU-Arab League Ministerial Meeting held in Malta in February last year.
“In Malta’s view, it is not only reasonable but natural that the EU should strive to intensify its dialogue with the Arab world is on our doorstep”, he added.
In 2006, Malta and Tunisia signed a joint exploration agreement and the two countries had to map out the zones of the continental shelf were joint exploration could be carried out.
Last October, Leni Gas & Oil, one of the companies currently exploring for oil in Malta, said that it was likely that there are around 5 billion barrels of oil in the area of exploration, of which almost 1.5 billion barrels would be recoverable.
Its latest quarterly report for 2008 said that no exploration work has been carried out since then, since the Maltese government is still discussing joint boundaries with Tunisia and Libya.
Developments in the energy security sector, challenges for public health and opportunities in the maritime transport are also on the agenda.
Deputy Prime Tonio Borg said that the Mixed Commission is also viewed as an excellent opportunity to gauge niche market opportunities.
Dr Borg claimed that Malta has initiated the process of the EU-League of Arab States dialogue which led to the EU-Arab League Ministerial Meeting held in Malta in February last year.
“In Malta’s view, it is not only reasonable but natural that the EU should strive to intensify its dialogue with the Arab world is on our doorstep”, he added.