BG Group, a FTSE 100 oil and gas giant, has completed drilling at its appraisal well in the BM-S-11 concession, off-shore Brazil, where it encountered 'good quality' oil samples.
The results have confirmed an extension of the lara accumulation indicating the "high" potentional of the pre-salt reservoirs in that region, after the well encountered good quality oil.
The well is the third to be drilled in the area and is part of the fast-track programme to develop the pre-salt Santos Basin discoveries.
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BG Group has a 25% interest in the BM-S-11 block.
Nevertheless, shares were down 1.34% at 1,402p by 14:06 on Tuesday, broadly in line with the wider oil and gas producing sector.
NR
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