Key Developments: BG Group PLC (BRGYY.PK)

BRGYY.PK on OTC Markets Group

10 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Enagas SA Acquires Second Tranche Of 20% Stake In GNL Quintero Owned By BG Group PLC With Oman Oil Co SAOC As Partner
Wednesday, 4 Sep 2013 11:48am EDT 

Enagas SA announced that it has increased its stake in GNL Quintero terminal in Chile with the acquisition of the second tranche of 20% owned by the BG Group PLC. To carry out this transaction, Enagas SA enabled Oman Oil Co SAOC to become a partner, with 49% of Terminal de Valparaiso, where Enagas SA will continue to be the majority shareholder. Enagas SA becomes the primary shareholder in the terminal. The deal falls under the agreement signed by Enagas SA to acquire, in two tranches, BG Group PLC’s 40% shareholding in GNL Quintero in April 2012. Enagas SA incorporated the company Terminal de Valparaiso for the acquisition of the first tranche, of 20%, which was completed in September 2012. The acquisition of the remaining 20% by Terminal de Valparaiso required an investment of USD 176 million. Subsequent to this deal, GNL Quintero's shareholders are as follows: Terminal de Valparaiso (40%), ENAP (20%), Endesa Chile (20%) and Metrogas (20%).  Full Article

BG Group PLC Announces Interim Dividend
Friday, 26 Jul 2013 02:00am EDT 

BG Group PLC announced that it has declared interim dividend increased 10% to GBP0.1307 per share (GBP0.0851).  Full Article

Galp Energia SGPS SA Announces Conclusion of Drilling and Formation Test of Fourth Exploratory Well in Iara Area in Block BM-S-11 in Consortium with Petroleo Brasileiro Petrobras SA and BG Group PLC
Wednesday, 24 Jul 2013 05:32pm EDT 

Galp Energia SGPS SA announced that, partner of the consortium for the exploration of block BM-S-11, it informed about the conclusion of the drilling and of the formation test of the fourth exploratory well in the Iara area, in block BM-S-11, in the pre-salt of Santos basin. Results from the well 3-RJS-706 (3-BRSA-1132-RJS), informally known as Iara West-2, reinforced the potential of light oil recoverable in Iara and confirmed the discovery of good quality oil (28 º API). The carbonate reservoirs revealed porosity and permeability conditions from 5,260 metres deep, which showed better characteristics than those found in the discovery well (1-RJS-656, Iara). The results of the formation test confirmed the productivity of the reservoirs. The well is located 226 km off the coast of Rio de Janeiro, at around 6 km from the Iara discovery well, at a water depth of 2,197 metres. The consortium will carry on the activities set in the Evaluation Plan approved by the National Petroleum, Natural Gas and Biofuels Agency. To date, the well 3-RJS-715D (3-BRSA-1181D-RJS), known as Iara High Angle is being drilled, and it is intended to go through the pre-salt with a high angle, with the goal of evaluating reservoir productivity in the central area of Iara. Galp Energia, through its subsidiary Petrogal Brasil, holds a stake of 10% in the contractor group that explores BM-S-11, while Petroleo Brasileiro Petrobras SA (Petrobras) (operator) holds 65% and BG Group PLC holds the remaining 25%.  Full Article

BG Group PLC Appoints Chief Financial Officer
Monday, 15 Jul 2013 02:00am EDT 

BG Group PLC announced that, with effect from November 2013, Simon Lowth has been appointed as Chief Financial Officer (CFO) and as an Executive Director. The effective date of the appointments remains to be confirmed. Simon will succeed Den Jones who has been Interim CFO and Executive Director since February 2013.  Full Article

BG Group PLC Announces Completion Of Sale Of Gujarat Gas Co. Stake
Wednesday, 12 Jun 2013 07:32am EDT 

BG Group PLC announced that it has completed the sale of the Group's 65.12% holding in India's private natural gas distributor Gujarat Gas Company Limited (GGCL) for INR 24.6 billion or approximately $422 million at current exchange rates. A binding agreement for the sale of the interest, to a subsidiary of Gujarat State Petroleum Corporation (GSPC), was announced in October 2012. The transaction was completed after BG Group and GSPC received the necessary approvals from the Reserve Bank of India and the Competition Commission of India.  Full Article

U.S. Supreme Court To Hear BG Group PLC Appeal In Argentina Case-DJ
Monday, 10 Jun 2013 09:00am EDT 

Dow Jones reported that The U.S. Supreme Court has agreed to consider an appeal by British energy company BG Group PLC that seeks to restore a $185 million arbitration award it won against Argentina in 2007. BG alleged the Argentinean government destroyed its investments in the natural-gas distribution sector through a series of state actions during Argentina's 2001-2002 economic crisis. The Company also accused Argentina of threatening businesses with serious penalties if they challenged the emergency actions in the Country's courts.  Full Article

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

Chile to import US shale gas as of late 2015 -report

SANTIAGO, July 8 - Chile's state oil company ENAP has signed long-term deal with British Gas to import shale gas from the United States at the end of next year, local media reported.

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