New discovery: Abare West in Brazil
September 15 2009 - 2:01AM
UK Regulatory
TIDMBG.
RNS Number : 0550Z
BG GROUP plc
15 September 2009
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| News Release | |
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15 September 2009
New discovery: Abare West in the pre-salt, Santos Basin, Brazil
BG Group (30%) and partners Petrobras (45%, operator) and Repsol (25%) today
announced another new discovery in the Santos Basin pre-salt BM-S-9 concession
area, offshore Brazil.
The well, 4-SPS-66C (4-BRSA-732C) known as Abare West, proved the presence of an
accumulation of oil and natural gas in a separate structure within the 1-SPS-50
evaluation plan area on BM-S-9. The evaluation plan area also encompasses the
separate Iguacu (4-BRSA-709 (4-SPS-60), announced April 2009) and Carioca
discoveries (1-BRSA-491-SPS (1-SPS-50), announced September 2007). Abare West is
approximately 30 kilometres from the Iguacu discovery and 40 km from the Carioca
discovery and 50 km to the west of the Guara discovery (1-BRSA-494-SPS), also in
the BM-S-9 concession, announced June 2008.
Abare West is in 2163 metres of water, approximately 290 km off the coast of Sao
Paulo State and encountered a hydrocarbon column containing oil, gas and carbon
dioxide in pre-salt reservoir sections. The well will be fully analysed and the
forward plan for this discovery will be incorporated into the evaluation plan
for this accumulation approved by ANP.
BG Group Chief Executive Frank Chapman said: "Abare West further extends an
outstanding sequence for BG Group and partners operating in the Santos Basin,
with eight discoveries in three years."
-ends-
Notes to Editors:
BG Group has interests in five concessions in the deep water Santos Basin:
BM-S-9, 10, 11 and 50, which are operated by Petrobras; and BM-S-52, which is
operated by BG Group.
BG Group also holds operated interests in the BM-S-47 and BM-S-13 concessions in
the shallow water Santos Basin and holds one onshore concession (BT-SF-2) in the
Sao Francisco Basin in Minas Gerais State.
BG Group has a controlling stake (60.1 per cent) in Brazil's largest gas
distribution company, Comgas.
BG Group plc (LSE: BG.L) is a world leader in natural gas, with a strategy
focused on connecting competitively-priced resources to specific, high-value
markets.Active in 27 countries on five continents, BG Group has a broad
portfolio of exploration and production, Liquefied Natural Gas (LNG),
transmission and distribution and power generation business interests. It
combines a deep understanding of gas markets with a proven track record in
finding and commercialising reserves. For further information
visit www.bg-group.com
Picture Desks:
For images of BG Group visit: www.vismedia.co.uk (requires additional
registration)
Contact:
Edel McCaffrey:+44 (0) 118 929 3508edel.mccaffrey@bg-group.com
Jo Thethi: +44 (0) 118 929 3110jo.thethi@bg-group.com
Out of Hours Media Mobile: +44 (0) 7917 185 707
Investor Relations:+44 (0) 118 929 3025invrel@bg-group.com
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 BG
Group's annual report and accounts for the year ended 31 December 2008. BG
Group 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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