BG Group enters new exploration basin, offshore Myanmar
READING, United Kingdom -- BG Group has been awarded new exploration acreage offshore Myanmar. BG will operate two blocks, A4 and AD2 (45% and 55% equity respectively). The company also secured non-operated acreage in blocks A7 and AD5 (45% equity in each).
These are located in the Rakhine basin, in the western offshore area of Myanmar and were awarded as part of the government' s 2013 Offshore Bid Round.
BG Group and its bidding partners have committed to a 3D seismic acquisition programme in each block, which the company expects to begin in 2014/15 with options for future drilling.
This award is in line with BG Group' s strategy to focus on securing prospective frontier acreage and enter, on average, one new basin each year.