UK gas giant BG confirmed Wednesday that it is to buy all the shares of Rio Tinto's Petroleum Resources unit, a move that will boost its interests in oil and gas blocks in the Gulf of Thailand and the Thailand-Cambodia maritime border area. Petroleum Resources holds Rio Tinto's 16.67% stake in Blocks B7, B8 and B9, and a 16.67% interest in an overriding royalty agreement covering production from Block 9A in the Gulf of Thailand. Before the deal, BG held a 50% interest in B7, B8 and B9, and in the overriding royalty agreement.
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