READING (dpa-AFX) - British energy company BG Group Plc (BRGYY.PK, BG.L) announced its fifth consecutive Tanzania gas discovery with Mzia-1 exploration well, which is located in Block 1, offshore southern Tanzania.
Mzia-1 is about 45 kilometres offshore southern Tanzania in a water depth of 1 639 metres. The company said Mzia-1 is its first discovery within the deeper Cretaceous section. It opens an extensive new play fairway within the Group's offshore acreage in Blocks 1, 3 and 4, to complement Tertiary fairway, it added.
BG Group, as operator has a 60% interest in Blocks 1, 3 and 4 offshore Tanzania, with Ophir Energy plc holding 40%.
According to BG Group, the well has de-risked a number of adjacent Cretaceous prospects, which could form part of a future Mzia hub. The new resources proven by Mzia and the potential of adjacent prospects are currently under evaluation.
Following the imminent completion of operations at Mzia, the Deepsea Metro-1 will relocate to Block 3 for the drilling of the next exploration prospect, Papa-1, the company added.
Copyright RTT News/dpa-AFX
© 2012 AFX News
