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BG Group Enters Oman With Exploration and Production Sharing Agreement

Posted on: Tuesday, 2 May 2006, 21:00 CDT

By Middle East and North Africa Business Report, Amman, Jordan

May 2--BG Group has signed an Exploration and Production Sharing Agreement (EPSA) with the Government of the Sultanate of Oman for a 100 percent interest in and operatorship of Block 60 onshore Oman.

Block 60, which covers almost 1500 square kilometres (sq km), contains the Abu Butabul gas and condensate discovery which was made in 1998.

In addition to this discovery there are other exploration prospects within the Block.

BG will acquire seismic over the area and conduct a comprehensive appraisal drilling programme to assess fully the reserve potential.

BG Group Chief Executive Frank Chapman, said: "We are delighted to be working in partnership with the Omani Government to assist in the development of the natural gas sector within the Sultanate. Our intention is to appraise and commercialise these potential reserves for supply into the domestic market.

"Our entry into Oman represents a significant development in the Group's aspirations within the region. To this end, we are establishing an office in Oman to support our participation in the continued development of the Omani gas industry and to assess further opportunities in the region."

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Copyright (c) 2006, Middle East and North Africa Business Report, Amman, Jordan

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BRG, BG,

Source: The Middle East and North Africa Business Report (Amman, Jordan)

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