26th Mar 2014 10:00
News Release |
26 March 2014
BG Group enters new exploration basin, offshore Myanmar
BG Group today announced it has been awarded new exploration acreage offshore Myanmar. BG Group will operate two blocks, A4 and AD2 (45% and 55% equity respectively). The company also secured non-operated acreage in blocks A7 and AD5 (45% equity in each). These are located in the Rakhine Basin, in the western offshore area of Myanmar and were awarded as part of the government's 2013 Offshore Bid Round.
BG Group and its bidding partners have committed to a 3D seismic acquisition programme in each block, which we expect to begin in 2014/15 with options for future drilling.
This award is in line with BG Group's strategy to focus on securing prospective frontier acreage and enter, on average, one new basin each year.
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Notes to Editors:
BG Group plc (LSE: BG.L) is a world leader in natural gas, with a broad portfolio of business interests focused on exploration and production and liquefied natural gas. Active in more than 20 countries on five continents, BG Group combines a deep understanding of gas markets with a proven track record in finding and commercialising reserves. For further information visit: www.bg-group.com
There are matters set out within this announcement 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 these forward-looking statements, refer toBG Group's Annual Report and Accounts for the year ended 31 December 2012. BG Group 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.
Contact:
Mark Todd: +44 (0) 118 929 3110 mark.todd@bg-group.com
Kim Blomley: +44 (0) 118 938 6568 kim.blomley@bg-group.com
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/ +65 6304 2028 invrel@bg-group.com
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