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BG GROUP plc  -  BG.   

Key project milestone with Everest East expansion

Released 09:00 18-Mar-2013

RNS Number : 2151A
BG GROUP plc
18 March 2013
 

 

 

News Release


18 March 2013

 

BG Group delivers key project milestone with Everest East expansion

BG Group today announced first production from its Everest East expansion project in the UK North Sea.  This significant milestone is the second of seven projects BG Group plans to bring onstream in 2013 as outlined at BG Group's annual results in February.

 

The Everest East expansion comprises two sub-sea wells tied back to the North Everest platform and brownfield modifications to the existing production system. It is expected that the project will provide initial peak production of over 10 000 barrels of oil equivalent (boe) per day with total gross reserves of 20.6 million boe.

 

BG Group Chief Executive Chris Finlayson said: "With first production from the Everest East expansion in the UK North Sea, following the second floating production, storage and offloading (FPSO) vessel coming onstream offshore Brazil in January and the recent restart of Elgin/Franklin, we have now achieved the key production milestones we set for the first quarter of 2013."

 

-ends-

 

Notes to Editors:

BG Group is the operator of the Everest field with 99.1% equity. Everest is located in the central North Sea and production first began in 1993.

 

BG Group plc (LSE: BG.L) is a world leader in natural gas, with a strategy focused on connecting competitively priced resources to specific, high-value markets. Active in more than 20 countries on five continents, BG Group has a broad portfolio of business interests focused on exploration and production and liquefied natural gas. It 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 2011. 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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Key project milestone with Everest East expansion - RNS