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BG Says North African Plans Delayed

Source: Bloomberg 5/10/2011, Location: Africa

BG Group Plc (BG/), the U.K.’s third- largest oil and gas company, delayed projects in North Africa because of civil unrest and protests in Egypt and Tunisia.

Development projects at West Delta Deep Marine in Egypt, due to start later this year, were postponed “by several months,” BG said in a statement. Gas demand in Egypt experienced “significant disruption.”

BG is building a third pipeline and pursuing a compression project in the West Delta, where it has 34 offshore wells, according to its website.

Oil rose as high as $114.83 a barrel in New York this year as revolts that overthrew the governments in Tunisia and Egypt raised concern that supplies from the Middle East would be disrupted as protests spread. Fighting between rebels and forces loyal to Libyan leader Muammar Qaddafi has shut 1.3 million barrels a day of output in Africa’s third-largest producer.

The company’s modification and maintenance of its Hasdrubal plant in Tunisia has been completed after delays, said BG Chief Executive Officer Frank Chapman. The plant, which BG owns in partnership with Tunisia’s state-owned Entreprise Tunisienne d’Activites Petrolieres, had been stopped in the third quarter.

“Unfortunately we were not able to start the plant due to civil unrest in Tunisia, which hampered access to the plant” for start-up testing, Chapman told reporters on a conference call. “The plant is now on stream performing very well and this is something we have behind us.”

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