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Epic BG.
Time: 08:06:24
Mid Price: 1177.00
Change Today: -8.50 Descending
Change % Today: -0.72 Descending
Fifty Two Week High: 1235.00
Fifty Two Week Low: 979.50
Market Capital: 39729.94
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Now: 1177.00
3 Months ago:
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Additional information
Additional Information
Market: LSE
Sector: Energy
Epic: BG.
News: Latest news
Web Site: BG Group
Other Articles: 09-12-200919-11-200913-11-2009

Crude Oil

BG Group

The management, development and operation of long term capital assets across the gas chain, from exploration and production of gas & oil, to liquefied natural gas manufacture and transportation, transmission and distribution and power generation.
Friday, November 13, 2009

BG Group says new hydrocarbon discovery in Brazil's Santos Basin Reinforces Potential of Large Deep-Water Oil and Gas Project

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BG Group (LSE: BG) said a hydrocarbon find at a new well in the deep-water Santos Basin offshore Brazi, Tupi North-East,  has reinforced the potential of its exploration projects in the basin. The Tupi North-East is located in the Tupi evaluation area in a water depth of 2,115 metres.

The Santos Basin is being explored through partnerships between both major global producers and smaller pure exploration plays. The Tupi North-East is being operated by majority partner Petrobras (NYSE: PBR) who own a 60% interest in the well. BG Group has 25% while Galp owns 10%.

Results from the Tupi North-West appraisal well reinforce the partners' estimates that the Tupi accumulation holds 5-8 billion barrels oil equivalent of recoverable reserves. Drilling penetrated an approximately 250 metre thick section of carbonate reservoirs. Wireline testing confirmed the presence of light oil at approximately 28° API.

Drilling on Tupi North-East has been concluded and drill stem tests to evaluate reservoir productivity will be conducted over the next few weeks.

BG Group has exposure to extensive operations within the Santos Basin which covers a total area of approximately 7,450 km₂. In recent months BG Group and its partners have made a number of significant hydrocarbon discoveries in the Santos Basin.

In September drilling made oil and gas discoveries in two of the basin’s other evaluation areas in the Abare and Guara blocks.

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