Key Developments: BG Group PLC (BG.L)

BG.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Ophir Energy Plc and BG Group PLC Extend Deepsea Metro I for Further 18 Months to Facilitate Continuous Drilling in Tanzania and Kenya
Thursday, 9 May 2013 02:01am EDT 

Ophir Energy Plc announced that it has secured a drilling rig and executed a letter of agreement for Rig Share Assignment with BG Group PLC for the continuation of its 2013-2014 East African offshore drilling programme. Odjfell Drilling is the contract counterpart and drilling service contractor. The Deepsea Metro I (DSM-1) drillship is being used by the Ophir-BG Group Joint Venture in Tanzania. This contract was previously due to expire in June but has been extended for a further period of at least 18 months. During this period the DSM-1 will be used to drill a combination of wells in Tanzania for the Ophir-BG Group Joint Venture in Blocks 1-3-4 and also to drill operated wells for Ophir in Tanzania and Kenya and for BG Group in Kenya.  Full Article

BG Group PLC Sells Additional Interests in Queensland Curtis LNG to China National Offshore Oil Corporation
Tuesday, 7 May 2013 02:00am EDT 

BG Group PLC announced it has signed binding agreements with China National Offshore Oil Corporation (CNOOC) for the sale of certain additional interests in the Queensland Curtis LNG (QCLNG) project in Australia for USD 1.93 billion and for the supply of an additional 5 million tons per annum of liquefied natural gas (LNG). Additionally, CNOOC will reimburse BG Group for its share of QCLNG project expenditure incurred from January 1, 2012.  Full Article

Statoil ASA and BG Group PLC Plan East African Liquefied Natural Gas (LNG) Terminal-Reuters
Monday, 18 Mar 2013 11:04am EDT 

Reuters reported that following Statoil ASA's new find offshore Tanzania of 4 trillion-6 trillion cubic feet (tcf) of gas, the Company and Britain's BG Group PLC plan a USD 10 billion East African liquefied natural gas (LNG) terminal for exports to Asia. To allow exports of the fuel there will be a need for plants to turn gas into freezing liquid for transport by ship to major markets.  Full Article

Petroleo Brasileiro Petrobras SA And Partners, Including BG Group PLC’s Subsidiary, Start Oil Production At Sapinhoa Subsalt Field-Reuters
Friday, 15 Feb 2013 05:13pm EST 

Reuters reported that Petroleo Brasileiro Petrobras SA (Petrobras) and its partners started production of subsalt crude at its Sapinhoa Norte field in the Santos Basin. Petrobras is the operator in the concession block BM-S-9 where the Sapinhoa field is located with partners BG E&P Brasil Ltda, a subsidiary of BG Group PLC which holds 30% of the block, and the joint venture Repsol Sinopec Brasil SA with 25%. Petrobras said it will begin by producing 15,000 barrels a day for up to six months from the field. The Sapinhoa is estimated to hold 2.1 billion barrels of recoverable oil equivalent.  Full Article

BG Group PLC Announces Disposal Interest In Non-Core, Conventional Producing Assets And Acreage
Friday, 15 Feb 2013 10:20am EST 

BG Group PLC announced that it has signed a sale and purchase agreement with EXCO Resources (EXCO) for the divestment of all its interests in the shallow, non-core, conventional producing assets and acreage in the Cotton Valley formation for a consideration of $132.5 million. Closing of this transaction is expected in the first quarter of 2013.  Full Article

Mr. Fabio Barbosa appointed Chairman BG South America and to step down as CFO of BG Group PLC
Friday, 15 Feb 2013 02:00am EST 

BG Group PLC announced that Mr. Fabio Barbosa has been appointed Chairman BG South America, reporting to Chief Executive Mr. Chris Finlayson, and has stepped down as Chief Financial Officer (CFO) and Executive Director of the Company for personal reasons. Mr. Barbosa has also stepped down as a member of BG Group's Group Executive Committee and other committees. BG Group also announces that Mr. Den Jones, BG Group Financial Controller, who acted as alternate director during Mr. Barbosa leave of absence, has been appointed a director of BG Group plc. As a director, Mr. Den Jones will continue to fulfil the role of BG Group Interim CFO pending the conclusion of a succession process for the role of CFO.  Full Article

BG Group PLC Gets $1.8 Billion Loan From U.S. Export-Import Bank-Reuters
Tuesday, 1 Jan 2013 05:28am EST 

Reuters reported that BG Group PLC said it had secured a $1.8 billion loan from the Export-Import Bank of the United States, as part of a wider push to diversify its funding options to support projects.  Full Article

BG Group PLC Appoints New Chief Executive
Thursday, 13 Dec 2012 02:00am EST 

BG Group PLC announced that Chris Finlayson has been appointed as Chief Executive, to succeed Sir Frank Chapman. Chris, who is currently Executive Director and Managing Director BG Advance, will take over as Chief Executive on January 1, 2013.  Full Article

BG calls shareholder meeting to vote on new CEO's pay package

LONDON, Nov 12 - BG Group has scheduled a general meeting for next month to allow shareholders to vote on its new chief executive's performance-linked pay which is worth 12 million pounds (18.97 million US dollar).

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