BG Group to explore offshore Newfoundland

BG Group PLC has acquired three non-operated positions offshore Newfoundland from Repsol SA. The blocks lie about 200 km from St. John’s, Newf. The company’s equity stakes range from 10-25%.

The blocks and BG’s percentage interest are: EL1123 (BG, 25%; Statoil SA, operator); EL1125 (BG, 10%; Statoil, operator; Chevron Corp.); and EL1126 (BG, 10%; Statoil, operator; Chevron).

BG says this opportunity is in line with its strategic exploration focus to enter new basins.

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