Could oil or gas finally be found within Maltese boundaries?

Malta’s government has just announced that the Maltese subsidiary of a Jersey-based drilling company will be exploring two southeast zones of Malta over the next two years to find potential gas or oil.

Albion Energy Malta Ltd will be exploring areas two and seven, which consists of around 18,000 square kilometres of maritime area.

“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 Finance Ministry said.

“The work obligations for the first two years consist of geological and geophysical studies on existing data,” it continued.

This is far from the first time potential drillers have wondered if there’s hidden oil or gas deposits in or around Malta’s shores, with the area bearing similarities to other oil deposits in nearby areas like Libya.