BG Group Enters Madagascar with Farm-in Agreement

BG Group has acquired a 30 percent interest in the Majunga Offshore Profond exploration block in Madagascar under a farm-in agreement with Vanco Madagascar Limited. This agreement marks BG's entry into the country.

BG Group Executive Vice President for the Mediterranean Basin and Africa, Stuart Fysh, said: "The Majunga block forms part of a largely unexplored frontier basin with significant potential."

BG's partners in the block are ExxonMobil Exploration and Production Madagascar Majunga Limited (operator, 50 percent) and SK Corporation of Korea (20 percent).

The forward work program includes the drilling of an exploration well planned for early 2007. The Majunga Offshore Profond Block, which covers an area of approximately 15,840 square kilometers, is located in deep water (depths ranging from 200 to 3000 meters) off north western Madagascar, approximately 100 kilometers from Mahajanga, between latitudes 14 degrees S and 15 degrees 30S.

Related Companies
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Technical Coordinator
Expertise: Client Representative|Process Management|Technical Writing
Location: Houston, TX
Executive Assistant
Expertise: Executive|Secretarial or Administrative
Location: United States
Regional Manager - Saybolt
Expertise: Executive|Operations Management
Location: Linden, NJ
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours