BG Group today welcomed the announcement that it has been awarded interests in two new licences in the Norwegian APA 2006 licensing round. The awards cover one licence in the Southern North Sea which contains the Bream discovery, and one licence in the North Tampen Area in the Northern North Sea. BG will be operator in the Southern North Sea licence.
Today's award maintains BG’s record of being awarded acreage with every application it has made in licensing rounds since its entry into the Norwegian Continental Shelf (NCS) in December 2003.
Mark Carne, BG Group Executive Vice President and Managing Director Europe and Central Asia said:
"We are delighted by the awards that allow us to continue our investment and expansion within Norway.
"In just over three years we have built up a significant portfolio of prospects in offshore Norway. We now have interests in 23 licences, 14 of which are BG operated. Our commitment to the NCS is reflected in our intention to drill 5 exploration wells in 2007.
"We are particularly pleased to have been awarded operatorship in the Bream discovery in the Southern North Sea, which was one of the most sought after licences."
The licence awards cover:
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Blocks 17/8, 9, 11, 12, 18/7 and part Block 18/10 (BG 40 % and operator) which lie in the Southern North Sea and contain the Bream discovery. The licence award carries a commitment for a well to be drilled within two years.
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Block 34/6 and part Block 35/4 (BG 25 %, Gaz de France operator) which lie in the North Tampen Area, Northern North Sea. The licence award carries a commitment for seismic and a future drill or drop decision within three years.
Notes to Editors:
BG Group plc is a global natural gas business. Active on five continents in over 25 countries, it operates four business segments - Exploration and Production, LNG, Transmission and Distribution and Power.
In December 2003, BG was selected for the operatorship - and 100 per cent ownership - in PL 297 in Norway’s first Awards in Predefined Areas (APA) licensing round. Seismic was acquired over the blocks in 2004-05.
Since then the BG portfolio in Norway has grown as follows:
June 2004 - Two awards in 18th Licensing Round:
August 2004 - Transaction with Lundin:
November 2004 - Transaction with Paladin:
December 2004 - Two awards in APA (Awards in Predefined Areas) Licensing Round:
July 2005 - Transaction with Statoil:
November 2005 - Transaction with DONG:
December 2005 - Four awards in APA (Awards in Predefined Areas) Licensing Round:
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PL373S (BG 45%, operator), PL 372S (BG 70% operator), PL374S (BG 45% operator) & PL382 (BG 80% operator)
March 2006 - Eight awards in the 19th Licensing Round
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PL 372BS (BG 70% operator), PL 388 (BG 100%, operator), PL 390 (BG 70%, operator),
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PL 391 (BG 40% operator, PL 396 (BG 70%, operator), PL 392 (BG 20%, Shell operator),
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PL 393 (BG 20%, Norsk Hydro operator) & PL 395 (BG 30%, Statoil operator).
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There are matters discussed in this media information that are forward looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to the Company’s annual report and accounts for the year ended 31 December 2005. The Company does not undertake any obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
Cautionary note to US investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. In this announcement we use the term “undeveloped gas” and in Notes to Editors we use the term “indicated gross reserves” that the SEC's guidelines strictly prohibit us from including in filings with the SEC. US investors are urged to consider closely the disclosure in our Form 20-F, File No. 1-09337, available from us at BG Group, 100 Thames Valley Park Drive, Reading RG6 1PT. You may read and copy this information at the SEC's public reference room, located at 100 F Street NE, Room 1580, Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further information on the public reference room. This filing is also avail able at the internet website maintained by SEC at http://www.sec.gov |