BG Group completes Mzia well test in Tanzania

BG Group said on Wednesday its Mzia-2 well offshore Tanzania has revealed better-than-expected resources following a drill stem test in Block 1.

BG Group said on Wednesday its Mzia-2 well offshore Tanzania has revealed better-than-expected resources following a drill stem test in Block 1.

The test on Mzia-2, the first completed on a Cretaceous discovery in deep water off Tanzania, flowed at a maximum rate of 57m standard cubic feet of natural gas per day, constrained by testing equipment.

Mzia-2 is located 4.0km from the Mzia-1 discovery, in about 1620 metres of water and approximately 45km off the coast of southern Tanzania. It is about 22km to the north of the Jodari-1 discovery well, also in Block 1, where a successful drill stem test was completed in March on the shallower Tertiary reservoir.

BG Group Chief Executive Chris Finlayson said: "The successful Mzia-2 drill stem test follows completion of a multi-well appraisal programme earlier this year on the nearby Jodari field. Results from the current campaign demonstrate the excellent quality of our interests offshore Tanzania, where our resources, and those of other participants in the region, are helping support plans for a multi-train LNG export project."

He said the company is also searching suitable sites for a potential onshore LNG terminal and expect to present proposed locations to the Tanzania Government in the next few months.

The drillship Deepsea Metro-1 has now relocated to Block 4 to drill an exploration well, Ngisi-1, adjacent to the Pweza and Chewa discoveries.

BG Group will use data from the current exploration and appraisal campaign and a recently completed 3D seismic survey to help identify new offshore targets for a third exploration programme beginning in late 2013.

RD

Recommended

Should you buy Vodafone shares, or steer clear?
Share tips

Should you buy Vodafone shares, or steer clear?

Vodafone grew revenue by 4% and profit by 11% last year, and offers investors a 6.4% dividend yield. So should you buy Vodafone shares? Rupert Hargrea…
17 May 2022
Melrose Industries: a British manufacturer that is well-placed for recovery
Share tips

Melrose Industries: a British manufacturer that is well-placed for recovery

Melrose, the aerospace and automotive manufacturer, has been hit by the pandemic, but the shares are unduly cheap says David J Stevenson.
17 May 2022
Avoid easyJet shares – there are better airlines to invest in
Share tips

Avoid easyJet shares – there are better airlines to invest in

EasyJet used to be one of Europe’s most impressive airlines. But now it is facing challenges on all fronts and losing out to the competition. Rupert …
16 May 2022
Britain’s ten most-hated shares – w/e 13 May
Stocks and shares

Britain’s ten most-hated shares – w/e 13 May

Rupert Hargreaves looks at Britain's ten-most hated shares, and what short-sellers are looking right now.
16 May 2022

Most Popular

Get set for another debt binge as real interest rates fall
UK Economy

Get set for another debt binge as real interest rates fall

Despite the fuss about rising interest rates, they’re falling in real terms. That will blow up a wild bubble, says Matthew Lynn.
15 May 2022
High inflation will fade – here’s why
Inflation

High inflation will fade – here’s why

Many people expect high inflation to persist for a long time. But that might not be true, says Max King. Inflation may fall faster than expected – and…
13 May 2022
Is the oil market heading for a supply glut?
Oil

Is the oil market heading for a supply glut?

Many people assume that the high oil price is here to stay – and could well go higher. But we’ve been here before, says Max King. History suggests tha…
16 May 2022