21st Sep 2007 07:06
BG GROUP plc21 September 2007 News Release 21 September 2007 BG Group confirms fourth consecutive well success in Santos Basin offshoreBrazil BG Group today confirmed the success of the Tupi Sul appraisal well in theBM-S-11 concession in the Santos Basin, offshore Brazil. The appraisal wellflowed at a rate of 2 000 barrels of oil and 65 thousand cubic metres of gas perday, with the rate constrained by surface facilities. The well, locatedapproximately 9.5 kilometres southwest from the Tupi discovery has proved thesouthern extension of that discovery. BG Group holds a 25% interest in theconcession together with operator Petrobras (65%) and Galp Energia (10%). The Tupi Sul appraisal well is the fourth consecutive success for BG Group inthe deepwater Santos Basin since the company began drilling in 2005. Previoussuccesses for BG Group are Parati (BM-S-10, September 2006), Tupi (BM-S-11,October 2006) and Carioca (BM-S-9, September 2007). BG has been present inoffshore Brazil since 2000 and has interests in seven concessions in the SantosBasin covering a total area of approximately 8 130 square kilometres. BG Group Chief Executive Officer, Frank Chapman said: "These are excellent results from the Tupi Sul appraisal well which maintain our100% success rate in the deep water Santos Basin. This outstanding sequenceenhances our confidence in this emerging hydrocarbon province and supports ourstrategy in the region." The partners will continue implementing the evaluation plan, the key objectivesof which are to verify the dimensions and characteristics of the reservoir andto establish the economic viability of development under these specificgeographic conditions - the Tupi Sul well, which flowed light oil (28degreesAPI), is located in 2 166 metres of water approximately 286 kilometres off thesouth coast of Rio de Janeiro. In addition to BM-S-11, BG Group's other interests in the Santos Basin are inthe BM-S-9, 10, 13, 47, 50 and 52 concessions. 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 2006. 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. Notes to Editors: BG Group plc is a global natural gas business. Active on five continents in over25 countries, it operates four business segments - Exploration and Production,LNG, Transmission and Distribution and Power. BG has interests in five concessions in the deep water Santos Basin:BM-S-9, 10, 11, 50 and 52 BG holds operated interests in the BM-S-13 and 47 concessions in the shallowwater Santos Basin. BG also holds one onshore concession (BT-SF-2) in the Sao Francisco Basin inMinas Gerais State. BG has a controlling stake (60.1%) in Brazil's largest gas distribution company,Comgas. Enquiries: Communications +44 (0) 118 929 2462 Out of hours media mobile: +44 (0) 791 718 5707 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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