BG Group has acquired three non-operated positions offshore Newfoundland from Repsol. This provides the company with access to early stage exploration in a proven prospective basin ahead of the first well being drilled later this year.
The blocks are located in the Atlantic Ocean, approximately 200 kilometres from St. John's, Newfoundland. The company's equity stakes range from 10% to 25%.
This opportunity is in line with the company's strategic exploration focus to enter new basins.