19th May 2006 16:44
BG GROUP plc19 May 2006 MediaInformation 19 May 2006BG Group successful in Nigerian Licensing Round BG Group, together with consortium member Sahara Energy Exploration & ProductionLimited, today announced that it has been awarded Oil Prospecting Licence (OPL)286-DO, (previously OPL 213), in the 2006 Nigerian Licensing Round. A signature bonus of $55 million is payable on signing of a Production SharingContract. BG Exploration and Production Nigeria Limited, a subsidiary of BGGroup, will be the operator of OPL 286-DO and will undertake a work programmeincluding one exploration well in the first five year phase. BG Group Executive Vice President for the Mediterranean Basin and Africa, StuartFysh, said: 'We are pleased to have secured this highly prospective acreageoffshore Nigeria which complements our existing Nigerian investments in OPL 332and the Olokola LNG project. We look forward to working with partners and theNigerian Government in continuing to play an active role in the development ofNigeria's gas sector.' OPL 286-DO is located in deep water (200 - 1,000 meters) offshore the westernNiger Delta, approximately 250 kilometres south-east of the Lagos. 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 2005. Note to Editors: In January 2006, BG Group acquired a 45 percent interest in, and operatorshipof, Block 332 offshore Nigeria. Sahara Energy Exploration & Production Limitedalso retains a 45 percent interest along with Seven Energy Nigeria Limited,which holds a 10 percent interest. Also in January, BG Gas Marketing Limited announced that it had signed aMemorandum of Understanding with Nigeria's Brass LNG for the acquisition of 2.0million tonnes per annum (mtpa) of LNG for 20 years. Shipments are expected tocommence in 2010. BG Group signed a Project Development Agreement in February 2006 with Chevron,Shell and Nigerian National Petroleum Corporation (NNPC) to undertake Front EndEngineering Design on the Olokola LNG facility in Nigeria's western states ofOndo and Ogun. In October 2003, BG LNG Services signed a Sales and Purchase Agreement withNigeria LNG to acquire 2.5 mtpa for 20 years. Shipments to the Lake Charlesimport terminal in Louisiana commenced in January 2006. BG Group is a global natural gas business. Active on five continents in over 20countries, it operates four business segments - Exploration and Production, LNG,Transmission and Distribution and Power. Enquiries: Communications +44 (0) 7796 337 644Out of hours media mobile: +44 (0) 7917 185 707Investor Relations +44 (0) 118 929 3025Website: www.bg-group.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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