BG to explore off Newfoundland
LNG player BG Group said it has acquired three non-operated positions offshore Newfoundland from Repsol.
This provides the company with access to early stage exploration in a proven prospective basin ahead of the first well being drilled later this year, BG said on Monday.
The Statoil-operated blocks are located in the Atlantic Ocean, approximately 200 kilometres from St. John’s, Newfoundland. BG’s equity stakes range from 10% to 25%.