15th Jun 2006 08:00
BG GROUP plc15 June 2006 Media Information 15 June 2006 BG Group enters Madagascar with Farm-in Agreement BG Group today announced that it has acquired a 30 per cent interest in theMajunga Offshore Profond exploration block in Madagascar under a farm-inagreement with Vanco Madagascar Limited ('Vanco'). This agreement marks BG'sentry into the country. BG Group Executive Vice President for the Mediterranean Basin and Africa, StuartFysh, said: "The Majunga block forms part of a largely unexplored frontier basinwith significant potential." BG's partners in the block are ExxonMobil Exploration and Production MadagascarMajunga Limited (operator, 50 per cent) and SK Corporation of Korea (20 percent). The forward work programme includes the drilling of an exploration well plannedfor early 2007. The Majunga Offshore Profond Block, which covers an area ofapproximately 15,840 square kilometers, is located in deep water (depths rangingfrom 200 to 3000 meters) off north western Madagascar, approximately 100kilometers from Mahajanga, between latitudes 14degreesS and 15degrees30S. 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. Note to Editors: BG Group is a global natural gas business. Active on five continents in over 20countries, it operates four business segments - Exploration and Production, LNG,Transmission and Distribution and Power. Enquiries: Communications +44 (0) 118 929 3717 Out of hours media mobile: +44 (0) 7917 185 707 Investor Relations +44 (0) 118 929 3025 Website: www.bg-group.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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