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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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