By OGJ editors
HOUSTON, Aug. 31 – BG Group PLC will farm out a 35% interest in the P1722 license in the UK Central North Sea to KazMunaiGas Exploration Production, Astana, Kazakhstan.
BG Group, which remains operator, plans to drill an exploratory commitment well in 2011 on the White Bear prospect on the license, which is close to BG Group’s Everest and Armada producing fields.
The farmout is KMG’s first international offshore project, and KMG becomes the first Central Asian company to explore in the North Sea. The farmout is the first official venture between KMG EP and BG Group under the terms of an upstream cooperation agreement signed in December 2008.