Press release from Business Wire India
Source: BG India
Friday, November 21, 2008 05:30 PM IST (12:00 PM GMT)
Editors: General: People; Business: Accounting & management consultancy services, Business services, Energy companies
Release no: 18584
BG Group Appoints Derek Fisher as Asset General Manager for BG India
New Delhi, Delhi, India, Friday, November 21, 2008 — (Business Wire India) — BG Group plc today announced the appointment of Derek Fisher as the Asset General Manager (AGM) for BG India.
Derek Fisher has extensive experience in exploration and production, power generation and transmission and distribution. He has been the AGM for BG Tunisia since April 2004, during which period he led the sanctioning and building of the major Hasdrubal project, due on stream in 2009. Fisher was previously the AGM for BG South East Asia and the AGM for BG Philippines. As AGM for BG India, he will be based at BG India’s headquarters in Mumbai.
Prior to joining BG Group in 1998, Derek held a range of senior management posts in the energy and infrastructure sectors, with experience across Asia including India.
BG Group is a key participant in the Indian gas industry, with significant interests in exploration and production and in transmission and distribution. The Group has a 30% interest in the Panna/Mukta oil and gas fields and the Tapti gas field. In 2007, the combined PMT fields produced around 45.6 mmboe (gross) – representing approximately 10% of India’s total oil and gas production. In 2006 BG Group acquired a 45% interest in exploration block KG-OSN-2004/1 in the Krishna Godavari Basin off the Eastern India coast; and in February 2008 the Group signed two farm-in agreements with Oil and Natural Gas Corporation Limited (ONGC) to acquire a participating interest in two Eastern India deep water blocks, subject to Government approval.
BG Group is also active in Indian downstream markets. The Group has a 65.12% controlling stake in Gujarat Gas Company Limited (GGCL), India’s largest private sector natural gas distribution company in terms of sales volume. GGCL currently has more than 230 000 residential, commercial and industrial customers, and serves more than 73 000 Compressed Natural Gas (CNG) vehicle users. In 2007, GGCL recorded a growth of 10% in gas sales volumes. BG Group also has a 49.75% stake in Mahanagar Gas Ltd (MGL), based in India’s commercial capital, Mumbai. MGL is India’s largest city gas distribution company in terms of size of customer base. The number of connected domestic customers has risen to 331 203 as at 30 June 2008. MGL also supplies natural gas to 982 small commercial and industrial establishments in Mumbai.
The appointment follows the decision by BG India AGM Kapil Garg to resign from his post to pursue other opportunities.
Notes for Editors
About BG India
BG India is a key private sector contributor to the country’s long-term gas strategy, developing and managing significant operations in exploration and production and with growing transmission and distribution business interests. BG India is part of BG Group plc (LSE: BG.L) – a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in 27 countries on five continents, BG Group has a broad portfolio of exploration and production, liquefied natural gas, transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with a proven track record in finding and commercializing reserves.
There are matters discussed in this media information that are forward looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to the Company’s annual report and accounts for the year ended 31 December 2007. The Company does not undertake any obligation to update publicly, or revise, forward looking statements, whether as a result of new information,future events or otherwise, except to the extent legally required.
Rajeev Khanna, BG India, +91 (011) 40604025 , +91 9810597902, [email protected]
Varun Chopra, Sampark Public Relations, +91 (011) 41731526 , +91 9811241427, [email protected]
Bity John, Sampark Public Relations, +91 (011) 41731527, +91 9811221068, [email protected]
PEOPLE, CONSULTANCY SERVICES, BUSINESS SERVICES, ENERGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com