Thursday 27 March 2014

BG Group enters new exploration basin, offshore Myanmar

BG Group  has been awarded new exploration acreage offshore Myanmar.

BG Group will operate two blocks, A4 and AD2 (45% and 55% equity respectively). The company also secured non-operated acreage in blocks A7 and AD5 (45% equity in each). These are located in the Rakhine Basin, in the western offshore area of Myanmar and were awarded as part of the government's 2013 Offshore Bid Round.

BG Group and its bidding partners have committed to a 3D seismic acquisition programme in each block, which we expect to begin in 2014/15 with options for future drilling.

This award is in line with BG Group's strategy to focus on securing prospective frontier acreage and enter, on average, one new basin each year.