2025
Following the grant of a thirty-six-month extension to its Exploration Period in December 2024, Medea Development continued discussions with the Strategic Fuel Fund and Safri-West Energies regarding a potential farm-in agreement. In June 2025, Medea submitted additional documentation to the Minister for Energy and Green Transition in support of Safri-West Energies’ financial capacity for consideration.
Outstanding surface rental balance is US$391,290.
2024
Although Medea Development was scheduled to drill its required exploration well in Q4 2024, the drilling did not take place. The company’s exploration period has since been extended, with the new deadline set for September 2027.
Medea Development has an outstanding surface rental balance of US$313,040.
2023
Following the well planning and procurement of drilling-related goods and services, Medea has again rescheduled the drilling of its obligatory exploration well to Q4 2023, having previously revised the schedule from Q4 2022 to Q2 2023. The contractor has also conducted further geological and geophysical studies to advance the prospects identified within the block.
Medea Development has an outstanding surface rental balance of US$234,790.
2022
The contractors’ drilling campaign for its obligatory well is scheduled for Q4 of 2022. This schedule remains speculative, given the history of inactivity on the block. However, the 2022 Semi-Annual Report of PIAC reveals the contractors are reported to be engaged in well planning and drilling-related procurements.
From the 2022 PIAC Annual Report, well planning and drilling-related procurement of goods and services are ongoing, with Medea revising the planned drilling of its obligatory exploration well to Q2 2023.
The contractors’ drilling campaign for its obligatory well is scheduled for Q4 of 2022. This schedule remains speculative, given the history of inactivity on the block. However, the 2022 Semi-Annual Report of PIAC reveals the contractors are reported to be engaged in well planning and drilling-related procurements.
From the 2022 PIAC Annual Report, well planning and drilling-related procurement of goods and services are ongoing, with Medea revising the planned drilling of its obligatory exploration well to Q2 2023.
2021
The contractors suspended their drilling program in 2020 on account of the effects of the pandemic.
The Minister of Energy has consequently granted an 18-month extension to the contractors to drill the obligatory well as required by their minimum work obligations. Medea is planning towards drilling of its obligatory exploration well in Q1 2022.
The contractors suspended their drilling program in 2020 on account of the effects of the pandemic.
The Minister of Energy has consequently granted an 18-month extension to the contractors to drill the obligatory well as required by their minimum work obligations. Medea is planning towards drilling of its obligatory exploration well in Q1 2022.
2020
The contractor was due to drill an exploratory well in 2020, but has requested for postponement of the drilling programme due to constraints imposed by the COVID-19 outbreak.
The contractor was due to drill an exploratory well in 2020, but has requested for postponement of the drilling programme due to constraints imposed by the COVID-19 outbreak.
2019
The company acquired 3D seismic data and got extension to process the data and execute its drilling of the required well. There has been no drilling to date.
The company acquired 3D seismic data and got extension to process the data and execute its drilling of the required well. There has been no drilling to date.