LONDON--Natural gas firm BG Group (LSE: BG.L) said Tuesday its
partner Petróleo Brasileiro S.A. (PBR), as the operator of block
BM-S-11 in the pre-salt Santos Basin, has submitted the
declarations of commerciality to the Brazilian National Agency of
Petroleum, Natural Gas and Biofuels for three separate oil and gas
accumulations in the Iara area, offshore Brazil.
As part of the declaration, the consortium has suggested that
the new fields be designated Berbigão, Sururu and Atapú West.
The Iara area is located 250 kilometers off the coast of Rio de
Janeiro, in water depths of around 2 270 meters. All fields contain
good quality oil, of 24 to 30 degrees API.
The declaration is another major milestone in the first phase of
development of BG Group's significant interests in the region,
marking the start of the production period of the fields.
BG Group has a 25% interest in the BM-S-11 concession, offshore
Brazil (Petrobras, operator 65%, Petrogal 10%).
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
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