6th Sep 2007 07:02
BG GROUP plc06 September 2007 News Release 6 September 2007 BG Group announces further discovery in Santos Basin offshore Brazil BG Group today announced the discovery of a new oil field in the Santos Basin,offshore Brazil. The discovery, known as Carioca, is within the BM-S-9concession, where BG Group holds a 30 per cent interest along with operatorPetrobras (45 per cent) and Repsol YPF Brasil S.A. (25 per cent). The Carioca oil field is located in 2 140 metres of water approximately 273kilometres off the south coast of Rio de Janeiro. It is close to the Tupidiscovery in Block BM-S-11 (BG Group 25%) which was announced in October 2006. The exploration well flowed at a rate of approximately 2 900 barrels of 27o APIoil and 57 thousand cubic meters of gas per day. The rate was constrained bytest equipment. BG Group Chief Executive, Frank Chapman said: "This is another significant discovery offshore Brazil, and builds on the Tupidiscovery last year which is located 70 kilometres to the east in the BM-S-11concession. "This is BG's third consecutive exploration well to discover hydrocarbons in thenew Santos basin pre-salt play, and this exceptional sequence enhances ourconfidence in the material exposure that BG has to this highly prospective area." In addition to Block BM-S-9, BG Group has interests in a further six concessionsin the Santos Basin - BM-S-10, 11, 13, 47, 50 and 52 - covering a total area of8 130 square kilometres. 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 2006. 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. Cautionary Note to US investors The United States Securities and Exchange Commission (SEC) permits oil and gascompanies, in their filings with the SEC, to disclose only proved reserves thata company has demonstrated by actual production or conclusive formation tests tobe economically and legally producible under existing economic and operatingconditions. We use the term "gross reserves" in this release which the SEC'sguidelines strictly prohibit us from including in filings with the SEC. USinvestors are urged to consider closely the disclosure in our Form 20-F, FileNo. 1-09337, available from us at BG Group, 100 Thames Valley Park Drive,Reading RG6 1PT, Attention: Company Secretary. You may read and copy thisinformation at the SEC's public reference room, located at 100F Street N.E.,Room 1580, Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 forfurther information on the public reference room. This filing is also availableat the internet website maintained by SEC at http://www.sec.gov. 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 non-operated interests in three concessions in the deep water SantosBasin: BM-S-9, 10 and 11. In 2004, BG acquired a 100% operated interest in the BM-S-13 concession in theshallow water Santos Basin. In 2005, BG was awarded three further concessions in the offshore Santos Basin(BM-S-47, 50 and 52), as well as one onshore concession (BT-SF-2) in the SaoFrancisco Basin in Minas Gerais State. BG has a controlling stake (60.1%) in Brazil's largest gas distribution company,Comgas. Enquiries: Communications +44 (0) 118 929 2462Out of hours media mobile: +44 (0) 791 718 5707Investor 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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