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Company BG GROUP plc
TIDM BG.
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Pweza field appraisal completed - 2 October 2013

Released 07:00 02-Oct-2013
Number 5042P07

RNS Number : 5042P
BG GROUP plc
02 October 2013
 



 

News Release


2 October 2013

                             

Pweza field appraisal completed; excellent reservoir quality confirmed

 

BG Group today announced it had successfully completed a drill-stem test in the Pweza gas field offshore southern Tanzania, concluding an intensive appraisal programme in Block 4.

 

The Pweza field is approximately 70 kilometres off the Tanzania coast in some 1 400 metres of water. Initial results from a drill stem test on Pweza-3 confirmed both the excellent properties of the Tertiary section reservoir, including flow and connectivity, and BG Group's understanding and modelling of the field's geology.

 

The Pweza-3 test, the first done in Block 4, flowed at a maximum 57 million standard cubic feet of gas per day, constrained by equipment. Importantly, the test demonstrated that development wells could flow at significantly higher rates and that the Pweza reservoir is potentially the most prolific in BG Group's Tanzania portfolio.

 

BG Group Chief Executive Chris Finlayson said: "Our acreage in Block 4 around the Pweza, Chewa and Ngisi discoveries is now fully appraised and tested, with resources in the order of 4 trillion cubic feet (tcf) of natural gas. The work done demonstrates the excellent quality of these fields and that they can be developed as a northern production hub to feed a potential LNG export project."

 

This Pweza well test also confirmed the robustness of BG Group's recently announced total gross resource in Tanzania of some 13 tcf of gas. 

 

The Deepsea Metro-1 drillship will now move south to Block 1 where it will drill a further appraisal well on the Mzia discovery.

 

BG Group as operator has a 60% interest in Blocks 1, 3 and 4 offshore Tanzania, with Ophir Energy holding 40%. The partners are now evaluating 3-D seismic survey data to help identify offshore targets for a new exploration programme in 2014.

 

-ends-

 

 

Notes to Editors:

BG Group plc (LSE: BG.L) is a world leader in natural gas, with a broad portfolio of business interests focused on exploration and production and liquefied natural gas. Active in more than 20 countries on five continents, BG Group combines a deep understanding of gas markets with a proven track record in finding and commercialising reserves. For further information visit:  www.bg-group.com   

 

There are matters set out within this announcement that are forward-looking statements. Such statements are only predictions, and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from these forward-looking statements, refer to BG Group's Annual Report and Accounts for the year ended 31 December 2012. BG Group does not undertake any obligation to update publicly, or revise, forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.

                     

Contact:

Mark Todd:                              +44 (0) 118 929 3110           mark.todd@bg-group.com

Kim Blomley:                           +44 (0) 118 938 6568            kim.blomley@bg-group.com

Out of Hours Media Mobile:  +44 (0) 7917 185 707

Investor Relations:                 +44 (0) 118 929 3025

 / +65 6304 2028                     invrel@bg-group.com

Social media channels:

Flickr                                      flickr.com/bggroup

Twitter                                    twitter.com/BGGroup

You Tube                               youtube.com/bggroupofficial

 

  

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Pweza field appraisal completed - 2 October 2013 - RNS