Multinational gas company with operations in 27 countries. BG Group is operator of an exploration license covering the entire marine area offshore the Gaza Strip. Following acquisition of over 1 000 square kilometers of 3D seismic data, BG Group drilled two successful wells in second half 2000 (Gaza Marine-1 and Gaza Marine-2). Reserves are estimated to be around 1 tcf. In 2001, a technical review recommended a sub-sea development and pipeline to an onshore processing terminal. In 2002, an outline Development Plan was approved by the Palestinian Authority. During late 2002, BG Group acquired an additional 925 kilometers of 2D seismic data over the area between the existing discoveries and the shore. BG Group holds 90% equity in the license, which would be reduced to 60% if the Consolidated Contractors Company (its current 10% partner in the license) and the Palestine Investment Fund, exercise their options at development sanction.