BG Group, together with consortium member Sahara Energy Exploration & Production
Limited, today announced that it has been awarded Oil Prospecting
Licence (OPL) 286-DO, (previously OPL 213), in the 2006 Nigerian
Licensing Round.
A signature bonus of $55 million is payable on signing of
a Production Sharing Contract. BG Exploration and Production
Nigeria Limited, a subsidiary of BG Group, will be the operator
of OPL 286-DO and will undertake a work programme including
one exploration well in the first five year phase.
BG Group Executive Vice President for the Mediterranean Basin
and Africa, Stuart Fysh, said: ‘We are pleased to have
secured this highly prospective acreage offshore Nigeria which
complements our existing Nigerian investments in OPL 332 and
the Olokola LNG project. We look forward to working with
partners and the Nigerian Government in continuing to play
an active role in the development of Nigeria’s gas sector.’
OPL 286-DO is located in deep water (200 - 1,000 meters) offshore
the western Niger Delta, approximately 250 kilometres south-east
of the Lagos.
Note to Editors:
In January 2006, BG Group acquired a 45 percent interest in,
and operatorship of, Block 332 offshore Nigeria. Sahara Energy
Exploration & Production Limited also retains a 45 percent
interest along with Seven Energy Nigeria Limited, which holds
a 10 percent interest. (See press release 20 Jan 2006: BG
Group signs Nigerian Production Sharing Contract)
Also in January, BG Gas Marketing Limited announced that it
had signed a Memorandum of Understanding with Nigeria’s
Brass LNG for the acquisition of 2.0 million tonnes per annum
(mtpa) of LNG for 20 years. Shipments are expected to
commence in 2010. (See press release 30 Jan 2006: BG
Group and Brass LNG enter agreement for Liquefied Natural Gas
(LNG) supply)
BG Group signed a Project Development Agreement in February
2006 with Chevron, Shell and Nigerian National Petroleum Corporation
(NNPC) to undertake Front End Engineering Design on the Olokola
LNG facility in Nigeria’s western states of Ondo and
Ogun.
In October 2003, BG LNG Services signed a Sales and Purchase
Agreement with Nigeria LNG to acquire 2.5 mtpa for 20 years.
Shipments to the Lake Charles import terminal in Louisiana
commenced in January 2006.
BG Group is a global natural gas business. Active on five
continents in over 20 countries, it operates four business
segments – Exploration and Production, LNG, Transmission
and Distribution and Power.
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