BG Group secures equity in Aphrodite discovery, offshore Cyprus
OREANDA-NEWS. BG Group today announces it has taken a 35% holding in Block 12 offshore Cyprus which includes the Aphrodite gas discovery. This upstream position provides a potential source of gas to Egypt where BG Group holds equity in the two train LNG export facility at Idku as well as LNG offtake rights to lift 3.6 mtpa.
Operated by Noble Energy, the Aphrodite gas discovery is approximately 170 kilometres south of Limassol.
Completion of the transaction is subject to certain regulatory approvals as well as customary closing conditions.
BG Group plc (LSE: BG.L) is a world leader in natural gas, with a broad portfolio of business interests focused on exploration and production and liquefied natural gas. Active in more than 20 countries on five continents, BG Group combines a deep understanding of gas markets with a proven track record in finding and commercialising reserves.