KMG, BG Group to Jointly Explore White Bear Prospect



KazMunaiGas EP will farm into a BG Group operated license, P1722, in the United Kingdom sector of the North Sea, and acquire a 35% interest in the license. The license contains the White Bear prospect, located near BG Group's existing Everest and Armada producing assets. BG will retain the remaining interests and will remain as operator of the license. In the license, an exploration well must be drilled, which the partners plan to do in 2011.

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