The development stages:Exploration drilling/2013-09.BAR-M-342 is a 769,2 square kilometers deepwater license off northeastern Brazil, part of 10 concession blocks owned and operated by the BG Group (50%). The license was acquired in the 11th bidding round and is also partly owned by Petrobras (40%) and Petrogal (10%). Brazilian regulator ANP calls for 39% local content 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 permits have been received. ANP says 137mn reais will be invested in the minimum exploratory program.