18th Jan 2007 13:38
BG GROUP plc18 January 2007 Media Information 18 January 2007 BG Sells Mauritanian Interests BG Group plc today announced that it has completed the sale of MauritaniaHoldings BV to Kuwait Foreign Exploration Company (KUFPEC) for a totalconsideration of US$128 million. The agreement signed today marks the disposal of all BG Group's currentinterests in Mauritania. BG Group has increased its worldwide exploration acreage significantly in thelast 18 months and believes that its Mauritanian assets no longer fitstrategically within its exploration portfolio. There are matters discussed in this media information that are forward lookingstatements. Such statements are only predictions and actual events or resultsmay differ materially. For a discussion of important factors which could causeactual results to differ from the forward looking statements, refer to theCompany's annual report and accounts for the year ended 31 December 2005. TheCompany does not undertake any obligation to update publicly, or revise, forwardlooking statements, whether as a result of new information, future events orotherwise, 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 Group purchased Mauritania Holdings BV from Hardman Resources Limited in 2004for an aggregate cash consideration of US$132 million. Mauritania Holdings BV operated as a wholly-owned subsidiary of BG Groupmanaging its interests in Production Sharing Contracts (PSCs) A and B coveringblocks 3, 4 and 5 offshore Mauritania, West Africa. These interests were -13.084% equity in PSC A, 11.630% equity in PSC B and 10.234% equity in theChinguetti Exclusive Exploitation Authorisation (EEA). PSC A covers Block 3 and shallow water Blocks 4 and 5. A gas field (Banda) hasbeen discovered in PSC A. PSC B covers deep water Blocks 4 and 5. Five oil discoveries have been made inPSC B (Chinguetti, Tiof, Tevet, Tevet Deep and Labeidna). The Chinguetti fieldcommenced production in Feburary 2006. Development studies on the Tiof field areongoing. Enquiries: Communications+44 (0) 118 929 3110 Out of hours media mobile: +44 (0) 791 718 5707 Investor Relations Chris Lloyd/Helen Parris/ Siobhan Andrews +44 (0) 118 929 3025 Website: www.bg-group.com - ends - This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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