Oil and gas group BG has announced the first production from its Margarita gas field in Bolivia.
BG Group Chief Executive Sir Frank Chapman said: "Margarita Phase I, delivered safely and to plan, will give BG Group additional net production of some 17 000 barrels of oil equivalent per day (boepd), taking total net production from Margarita to over 25 000 boepd."
Chapman added that the group is on track to deliver the average 6% to 8% per annum production growth through to 2020 that it has targeted.
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Margarita Phase I is expected to reach capacity in the second quarter of 2012. The second phase of development at the Margarita gas field, comprising the installation of a new processing train, flow lines and at least three additional development wells, will at capacity increase BG Group net production from the Margarita field to around 42 000 boepd by the end of 2014.
BG Group has a 37.5% interest in the Caipipendi block, which contains the Margarita gas field. Its partners on the block are the operator, Repsol Bolivia (37.5%), and PAE E&P Bolivia Limited 25 %).
JH
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