BG Group Enters Madagascar with Farm-in Agreement

Source: www.gulfoilandgas.com 6/15/2006, Location: Africa

BG Group announced that it has acquired a 30 per cent interest in the Majunga Offshore Profond exploration block in Madagascar under a farm-in agreement with Vanco Madagascar Limited ('Vanco'). This agreement marks BG's entry into the country. BG Group Executive Vice President for the Mediterranean Basin and Africa, Stuart Fysh, said: "The Majunga block forms part of a largely unexplored frontier basin with significant potential."

BG's partners in the block are ExxonMobil Exploration and Production Madagascar Majunga Limited (operator, 50 per cent) and SK Corporation of Korea (20 per cent).

The forward work programme includes the drilling of an exploration well planned for early 2007. The Majunga Offshore Profond Block, which covers an area of approximately 15,840 square kilometers, is located in deep water (depths ranging from 200 to 3000 meters) off north western Madagascar, approximately 100 kilometers from Mahajanga, between latitudes 14 degrees S and 15 degrees 30S.


South Africa >>  6/27/2022 - In accordance with a farmout agreement (the "Agreement"), Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company with a focus on the offsh...
Brazil >>  6/24/2022 - Petrobras, following up on the release disclosed on 06/23/2022, informs that it signed with BW Energy Maromba do Brasil Ltda (BWE), the contracts for ...

Brazil >>  6/23/2022 - Petrobras, following up on the release disclosed on 06/14/2022, informs that its Executive Board, in a meeting held, approved the sale of its total st...
Brazil >>  6/23/2022 - BW Energy has been notified that the Company’s offer to acquire the Golfinho and Camarupim Clusters offshore Brazil has been approved by the Petrobras...

Brazil >>  6/22/2022 - Petrobras, following up on the release disclosed on 07/28/2021, informs that the Administrative Council for Economic Defense (CADE), in a court sessio...
Canada >>  6/22/2022 - EverGen Infrastructure Corp., Canada’s renewable natural gas (“RNG”) infrastructure platform, announces that it has been featured in a broadcast via N...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.