Albion Energy Malta Limited, a company fully owned by Albion Energy Limited, was 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.