No 48



BG Postpones Drilling Decision For Gal A, B Blocks Due To Tax Uncertainty

BG has agreed with its partners to postpone a decision on whether to move ahead with plans for a drilling program on Israels Gal A and Gal B offshore blocks in 2003 (for map, see MEES, 8 November 1999). In a statement released by the partners after a meeting on 21 November, they said the postponement was mostly due to the uncertainty regarding the rate of taxes that gas producers will...