2.500
%
Neutral
22
mm boe
0
%
Malta's offshore has drawn interest following discoveries in the Levant and Eastern Mediterranean, but no commercial discovery has yet been made. Outlook maintained because prospectivity remains unproven. Outlook: Neutral. Risk premia unchanged at 2.5%.
October 7, 2026
Europe - North West
mm bbl
bcf
Southern Europe, islands in the Mediterranean Sea, south of Sicily (Italy).
PSC/PSA
Relatively simple Production Sharing Contract ("PSC")-based fiscal regime. No royalty is payable. Cost recovery ceilings are negotiable with a specified maximum; profit oil splits are also negotiable, based on project profitability. The contractor is also liable for corporate income tax.
Malta is a stable EU member under Prime Minister Robert Abela's Labour government. US and UK guidance cite an English-speaking, EU-regulated environment with strong financial services and gaming sectors, although the EU Court of Justice ruled against its citizenship-by-investment scheme in 2025 and governance concerns persist. Malta has no hydrocarbon production; power comes from the Delimara LNG-fired plant and an interconnector with Sicily.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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