MOG said the increase in reserves is attributable only to the section of the company’s 100% owned Ombrina Mare oil and gas field which was successfully appraised by the Ombrina Mare 2 well.
The company said it is currently focussed on a development plan to produce the 20 million bbl of P1 & P2 oil reserves.
The plan will provide for the simultaneous development of any additional oil and gas reserves delineated in further appraisal and step out drilling.