BG Group sees Brazil project nearing production
BG Group, the gas company, has seen its share price rise 1.6% this morning on news that one of its assets in Brazil is nearing production.
BG Group, the gas company, has seen its share price rise 1.6% this morning on news that one of its assets in Brazil is nearing production.
The British firm owns 30% of block "BM-S-9" in the Santos Basin off the coast of Brazil.
Its partner in the project, Petroleo Brasileiro, has submitted a "Declaration of Commerciality" (DoC) with the relevant authorities.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
BG Group says this DoC "marks the start of the production phase for the Guar field".
The two partners are looking to name the block Sapinho. They also claim it has "excellent reservoirs with good quality 30 API oil".
Over 2011 BG Group is 5.45% up. Over the last five years the stock has doubled in value.
BS
-
Best places to live in England and Wales in 2026 – and how much they costCriteria like value for money, natural beauty, good schools, jobs and a high quality of life are key for those looking at areas to buy a house – but how much will it cost you to live in a high ranking town or city? We reveal the best places to live in England and Wales.
-
London house prices: Is the capital's property boom over?Buyers and investors have always been drawn towards the capital’s property market. But as house prices stall, is the market as lucrative as it once was and are buyers and investors still interested?
