BG Awarded Four Licenses in Latest Norwegian Licensing Round
BG Group has been awarded four new licenses in the latest Norwegian pre-defined licensing round - APA 2005. The awards cover three licenses in the North Tampen Area (Northern North Sea) and one in the Haltenbanken Area (Norwegian Sea).
BG will be operator in all the licenses it has been awarded.
Today's award maintains BG's record of being awarded acreage in the Norwegian Continental Shelf (NCS) with every application it has made in licensing rounds since its entry into the region in 2003.
Executive Vice President and Managing Director BG Europe Region, Mark Carne said:
"We are delighted by today's awards that allow us to continue our investment and expansion within the NCS.
"Since our entry into Norway, just two years ago, we have been awarded or acquired interests in 15 licenses, and in eight of these we are now the operator. This is clear recognition of our long term commitment to the NCS."
The license awards are as follows:
PL373S (BG 45% (op)) lies in the North Tampen Area. The license award carries a commitment for a well to be drilled within three years.
PL 372S (BG 70% (op)) and PL374S (BG 45% (op)) also lie in the North Tampen Area. These licenses carry a commitment for seismic and a future drill or drop decision within two years.
PL382 (BG 80% (op)) lies in the Haltenbanken Area. The license award carries a commitment for seismic and a future drill or drop within three years.
BG Group plc is a global natural gas business. Active on five continents in over 20 countries, it operates four business segments - Exploration and Production, LNG, Transmission and Distribution and Power.
In December 2003, BG was selected for the operatorship - and 100 percent ownership - in PL 297 in Norway's first Awards in Predefined Areas (APA) licensing round. Seismic was acquired over the blocks in 2004-05.
Since then the BG portfolio in Norway has grown as follows:
June 2004 - 18th Licensing Round, Norwegian Sea:
- PL 324 (BG 30%, ENI (op), ChevTex,)
- PL 325 (BG 30%, ChevTex (op), ENI,)
August 2004 - Transaction with Lundin:
- PL 292 (BG 60% (op), Lundin)
November 2004 - Transaction with Paladin, North Sea Play Extension:
- PL 143, 143 CS, 298 - The Hummer well is scheduled to spud December 2005 (Paladin (op)).
December 2004 - Two awards in APA (Awards in Predefined Areas) Licensing Round:
July 2005 - Transaction with Statoil, Norwegian Sea:
- PL 251 (BG 20%, Statoil (op), Shell) - Technical gas discovery.
November 2005 - Transaction with DONG, North Sea (pending completion):
- PL 274 BS (BG 80% (op), DONG 20%) - Stratigraphic carve-out - Mandarin Extension
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