BG Group Wins Stake in Two Norwegian Licenses

BG Group has been awarded interests in two new licenses in the Norwegian APA 2006 licensing round. The awards cover one license in the Southern North Sea which contains the Bream discovery, and one license in the North Tampen Area in the Northern North Sea. BG will be operator in the Southern North Sea license.

Today's award maintains BG's record of being awarded acreage with every application it has made in licensing rounds since its entry into the Norwegian Continental Shelf (NCS) in December 2003.

Mark Carne, BG Group Executive Vice President and Managing Director Europe and Central Asia said:

"We are delighted by the awards that allow us to continue our investment and expansion within Norway.

"In just over three years we have built up a significant portfolio of prospects in offshore Norway. We now have interests in 23 licenses, 14 of which are BG operated. Our commitment to the NCS is reflected in our intention to drill 5 exploration wells in 2007.

"We are particularly pleased to have been awarded operatorship in the Bream discovery in the Southern North Sea, which was one of the most sought after licenses."

The license awards cover:

  • Blocks 17/8, 9, 11, 12, 18/7 and part Block 18/10 (BG 40 % and operator) which lie in the Southern North Sea and contain the Bream discovery. The license award carries a commitment for a well to be drilled within two years.
  • Block 34/6 and part Block 35/4 (BG 25 %, Gaz de France operator) which lie in the North Tampen Area, Northern North Sea. The license award carries a commitment for seismic and a future drill or drop decision within three years.

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