BG Group Awarded Key Blocks in 23rd UK Licensing Round
BG Group has been awarded North Sea blocks 20/2b, 20/3d, and part blocks 13/21b and 22/8a in the 23rd Licensing Round.
BG will be operator in all blocks awarded and has 100% interest in all apart from part block 22/8a which is a 50% partnership with Apache.
The acreage awarded today confirms BG's commitment to the UK Continental Shelf (UKCS) and consolidates its position in the Outer Moray Firth and Central North Sea areas.
Mark Carne, Executive Vice President and Managing Director for Europe, welcomed the license awards saying:
"We are pleased with today's awards as they recognize BG's commitment to the North Sea and the expertise we can bring to maximize the remaining potential of UKCS hydrocarbons.
"We are particularly pleased with the award of part block 22/8a in the Everest area. It adds to blocks gained in previous UK licensing rounds and has the potential to further strengthen our position in "hub" areas where we already have significant operations. The remaining awards to BG consolidate existing prospects in the Outer Moray Firth.
"At a time when the overall production from the North Sea is in decline BG is bucking the trend and planning to increase its production. Projects such as Atlantic and Cromarty, Buzzard, Maria and North West Seymour are all scheduled to come onstream between now and early 2007. It is this proven track record of commitment allied with success that is reflected in today's awards to BG Group."
Operates 3 Offshore Rigs
- Ancala Acquires Apache's Two North Sea Gas Pipeline Assets (Nov 20)
- Apache Raises North America Output Forecast, Swings To Profit (May 04)
- Oil Producer Apache Posts Smaller-Than-Expected Loss (Nov 03)
Company: BG Group more info
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