BG Group to Farm-In to Offshore Tanzania



BG Group received approval from the Government of the United Republic of Tanzania to farm into Blocks 1, 3 and 4 offshore southern Tanzania. Ophir solely owns the blocks. Upon completion of the agreements, BG Group will acquire 60% of Ophir's interests in each of the offshore blocks by contributing 85% toward costs, which include an initial work program. The blocks span more than 6 million acres (27,000 square kilometers) in the Mafia Deep offshore Basin and the northern portion of the Ruvuma Basin, which are situated in water depths ranging from 328 to 9,843 feet (100 to 3,000 meters).

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