By OGJ editors
HOUSTON, Dec. 9 -- BG Group PLC has signed three exploration and production-sharing agreements (EPSAs) for onshore Libyan Blocks 123 (1) and 123 (2), in the Sirte basin and onshore Area 171 (Blocks 1, 2, 3, and 4), in the Kufra basin (see map, OGJ, Oct. 24, 2005, p. 42).
BG owns 100% of and will operate the EPSAs for Blocks 123 (1) and 123 (2), which cover a total 4,750 sq km, and hold a 50% interest in the EPSA for Area 171, which covers 11,000 sq km, in partnership with Statoil ASA, the operator.
The EPSA work obligation for the two blocks involves acquiring seismic data and drilling one exploration well on each block. The EPSA work obligation for Area 171 involves acquiring seismic data and drilling two exploration wells.