By OGJ editors
HOUSTON, May 4 -- BG Group PLC has agreed to acquire an exploration license in the Santos basin, 140 km off Sao Paulo, from the Houston-based El Paso Corp. for $23.5 million.
If approved by government regulators, BG Group will obtain 100% ownership and operatorship of Block BM-S-13, which is on trend with Merluza gas field in Block BS-400.
BG Group already is a partner with state oil company Petroleo Brasileiro SA in the Petrobras-operated BM-S-9, 10, and 11 deepwater exploration blocks in the Santos basin. In addition, BG Group also owns 60.1% of the Sao Paulo-based Comgas, a gas distribution company.
