BG Group Signs Kenya Production Sharing Contracts

Source: www.gulfoilandgas.com 5/17/2011, Location: Africa

BG Group announced that it has signed Production Sharing Contracts with the Government of Kenya for two offshore exploration blocks - L10A and L10B. BG Group will be operator on both blocks and will hold a 40% equity interest in block L10A and a 45% interest in block L10B. The initial work programme consists of a commitment to acquire seismic data during an initial exploration period of two years.

Blocks L10A and L10B together cover an area of more than 10,400 square kilometres in the southern portion of the Lamu Basin, offshore Kenya, located in water depths ranging from around 200 metres to in excess of 1 900 metres.

BG Group Executive Vice President and Managing Director, Africa Middle East & Asia, Sami Iskander, said: "BG Group looks forward to working with our partners and the Kenyan Government to play an active role in the exploration for oil and gas offshore Kenya."

BG Group's partners in the Kenya blocks are:

Block L10A: Premier Oil Investments Limited 20%; Cove Energy plc 25%; Pancontinental Oil & Gas NL 15%.
Block L10B: Premier Oil Investments Limited 25%; Cove Energy plc 15%; Pancontinental Oil & Gas NL 15%.


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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 


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