The rapid development of Oil & Gas exploration and production in Malta has increased the possibility of new business opportunities. The new Government indicated that a boost to oil exploration in the Maltese waters will be given priority.
Malta with its ideal location in the heart of the Mediterranean Sea offers numerous advantages for Oil & Gas exploration
Malta offers interesting advantages for foreign investors. The island is strategically located at the heart of the Mediterranean with very close links to Europe¸ North Africa and the Middle East. Malta is considered as a privileged investment location in the sector and ideal logistics hub due to its excellent port infrastructure. Being a member of the European Union¸ Malta seems to be an ideal location in terms of trade and investment in the Euro-Mediterranean region.
Progress and flexibility are the key success factors of Malta to react rapidly to international tendencies and the world market. Malta is classified in the top ten countries in terms of attracting foreign direct investment. The country offers a number of advantages for foreign investors:
– It offers a logistics base for transshipment ¸ supplies¸ storage¸ warehousing and other services.
– It is an ideal regional base for international companies where English is widely spoken.
– It serves short sailing distances to the major offshore platforms in the area¸ and to the main ports in Algeria¸ Tunisia¸ Libya and Egypt
– It offers expertise in manufacture¸ repair and conversion of ships and rigs.
– Malta is widely known as a safe and secure place to do business¸ with high political stability and one of the lowest levels of corruption worldwide.
– Under Maltese Maritime Law¸ Oil and Gas drilling platforms are recognised equivalently to other vessels. The same benefits and procedures apply.