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BG Group exits Tanzania Block 3 gas licence

Reuters - UK Focus

LONDON, Oct 2 (Reuters) - BG Group (LSE: BG.L - news) has made an application to the Tanzania government to relinquish its operatorship of an offshore gas drilling block, a spokesman said.

The British gas producer took a 60 percent interest in Block 3 in 2010 but now aims to exit the licence.

"Our view of the resource does not support BG Group proceding to the next phase of development," he said.

In a separate statement, Block 3 partner Ophir said it had applied to take over operatorship of the block. (Reporting by Karolin Schaps; editing by Jason Neely)