1st Sep 2006 10:36
BG GROUP plc01 September 2006 Media Information 1 September 2006 BG Group announce substantial North Sea discovery BG Group today announced the discovery of a gas condensate field in the CentralNorth Sea. The discovery straddles blocks P011 and P0032 30/7a. BG Group holds a30.5 per cent interest in the discovery along with operator ConocoPhillips (36.5per cent) and ENI UK Limited (33.0 per cent). Following the initial exploration well, which was drilled earlier this year, asidetrack well has confirmed the presence of a substantial commercialhydrocarbon accumulation. BG estimates recoverable reserves to be between 100and 275 million barrels. The consortium is targeting early development sanction. BG Group Executive Vice President, Europe and Central Asia, Mark Carne, said,"This is one of the largest recent North Sea discoveries and represents a highlyattractive near-term, near-infrastructure project. This is BG's 5th discovery inthe North Sea in the past 12 months. It once again reinforces the prospects forour UK exploration and production business and shows the continued prospectivityof the North Sea." The initial well was drilled in a water depth of 81 meters and is ninekilometers west of the existing Judy development. 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. 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 "estimated recoverable reserves" in this mediainformation which the SEC's guidelines strictly prohibit us from including infilings with the SEC. US investors are urged to consider closely the disclosurein our Form 20-F, File No. 1-09337, available from us at BG Group, 100 ThamesValley Park Drive, Reading RG6 1PT, Attention: Company Secretary. You may readand copy this information at the SEC's public reference room, located at 100 FStreet, N.E., Room 1580, Washington, D.C. 20549. Please call the SEC at1-800-SEC-0330 for further information on the public reference room. This filingis also available at 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 over20 countries, it operates four business segments - Exploration and Production,LNG, Transmission and Distribution and Power. BG Group has interests in over 20 UKCS fields. It is active in 87 blocks in theUK North Sea, and is operator in 44 of them. BG Group operates the Armada, Mariaand Seymour fields in the Central North Sea, the Blake and Atlantic fields inthe Outer Moray Firth, and some of the Easington Catchment Area fields in theSouthern North Sea (Neptune, Mercury, Minerva and Apollo). Enquiries: Communications +44 (0) 118 929 3717 Out of hours media mobile: +44 (0) 791 718 5707 Investor Relations +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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