BG Group appoints Derek Fisher as Asset General Manager for BG India

New Delhi, Nov 21 (ANI/Business Wire India): BG Group 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 per cent 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 per cent of India's total oil and gas production. In 2006 BG Group acquired a 45 per cent 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 deepwater blocks, subject to Government approval.

BG Group is also active in Indian downstream markets. The Group has a 65.12 per cent 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 per cent in gas sales volumes. BG Group also has a 49.75 per cent 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 June 30, 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.

ANI