BG finds gas at Tanzania offshore block


BG Group (BRGYY, BRGXF) and partner Ophir Energy (OPGYF) announce a new gas discovery off the coast of Tanzania with its Taachui-1 probe in Block 1.

The well was drilled to 13,808 ft. and encountered gas in a single gross column of 948 ft. within the targeted reservoir interval; net pay totaled 508 ft.

BG, along with Statoil and Exxon, plan to build the first liquefied natural gas plant in the country to export natural gas to Asian markets in a project expected to cost $20B-$30B.

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