05.07.2009

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.

Impurities and water contained in the fluid produced by an oil well

Normally the oldest rock in any one vicinity, normally stratigraphically below the petroleum producing horizons

Impurities contained in the fluid produced by an oil well

Behind-pipe reserves are expected to be recovered from zones in existing wells, which will require additional completion work or future recompletion prior to the start of production

Set of techniques for increasing the productivity of a field.

A flow-control device employing a ball with a rotating mechanism to open or close the tubing medium. A device used to restrict fluid flow to one direction

When the government exercises its ‘back-in right’ to purchase a certain percentage of an oil or gas field

The person who holds one length of pipe while another length is being screwed into or out of it.