BAR-M-340 is a 769 square kilometers license area located in shallow waters off the coast of northeastern Brazil, and it is part of the 10 concession blocks owned and operated by BG Group (100%), acquired in the 11th bidding round. Local content required by the Brazilian regulator is 39% during exploration and 65% during development. In the first five-year exploration phase, BG Group's work program will include a combination of full-block seismic acquisition and processing and a number of wells. Seismic acquisition will begin once the required environmental permitting has been received. According to Brazilian regulator ANP, 137mn reais will be invested in the minimum exploratory program (PEM).