BG Gets PSA Nod for North Sea Exploration

The Petroleum Safety Authority Norway has granted consent to BG Norge AS for use of the West Alpha semisub to drill wells 15/12-E1H and 6/3-A1H in the southern part of the North Sea. The wells, located on the Gaupe field, belong to Production License 292 and are located about 149 miles (240 kilometers) southwest of Stavanger, near the UK shelf border. Drilling should start in March 2011 and last for about 69 and 71 days, respectively. Gaupe, estimated to hold 28 million barrels of oil equivalents, will come online in the fourth quarter of 2011. BG Norge serves as the operator, holding a 60% working interest; Lundin holds the remaining 40%.

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