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GDF SUEZ Enters Gas Exploration Licences for the First Time in Brazil - GDF SUEZ has signed an ‘Asset Purchase Agreement’ (APA) with Vale S.A. to acquire its 20% participating interest in two gas exploration blocks in the Parnaiba onshore basin, located in the North East of Brazil1
GDF SUEZ Enters Gas Exploration Licences for the First Time in Brazil

 

NewswireToday - /newswire/ - Paris, Ile de France, France, 2013/11/14 - GDF SUEZ has signed an ‘Asset Purchase Agreement’ (APA) with Vale S.A. to acquire its 20% participating interest in two gas exploration blocks in the Parnaiba onshore basin, located in the North East of Brazil1. FR0010 208488

   
 
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GDF SUEZ has signed an ‘Asset Purchase Agreement’ (APA) with Vale S.A., one of the largest metals and mining company in the world, to acquire its 20% participating interest in two gas exploration blocks in the Parnaiba onshore basin, located in the North East of Brazil1.

Signing of the APA marks the first entry of GDF SUEZ into the exploration-production activities in Brazil.

Blocks 2 and 3 cover an area of 3,067 km² and 3,065 km² respectively in a region relatively under-explored, with high potential of natural gas. These licences were awarded in March 2008 as part of the 9th exploration bid round to Vale (20%), BP (40%, operator of block 2) and Petrobras (40%, operator of block 3). One exploration well in each of these two blocks is scheduled by March 2014.

Didier Holleaux, Chief Executive Officer of GDF SUEZ E&P International, said: “Through this acquisition, GDF SUEZ makes its first step in exploration-production activities in Brazil. This transaction allows us to work with experienced partners, in a region which is still under-explored but which has a clear potential for natural gas.”

Maurício Bähr, GDF SUEZ Country Manager in Brazil, affirmed: “The combination of GDF SUEZ international experience in exploration-production activities and our significant presence in the Brazilian electricity market represents a strong position for the Group in Brazil. We expect natural gas to play a key role in the Brazilian energy mix going forward, and therefore direct access to gas is an important enhancement to GDF SUEZ position in the country.”

GDF SUEZ, a major energy player in Brazil
GDF SUEZ, through its subsidiary Tractebel Energia, is the largest independent power producer in Brazil, representing approximately 7% of the country’s total installed power generation capacity. 87% of the 8,522 MW capacity is from renewable resources. Its position in renewables has been reinforced by the construction of new wind farms in the Northeast region.

GDF SUEZ is currently also constructing Jirau, a major 3,750 MW hydropower plant located on the Madeira river, in the State of Rondônia. The project, which will produce clean and renewable energy to meet the electricity demand of 10 million Brazilian households, was recently registered with the United Nations under the Clean Development Mechanism. The Group is also present in energy related services and has been supplying the Brazilian market with LNG since 2012.

GDF SUEZ exploration-production activities
As of 31.12.2012, GDF SUEZ E&P International holds a balanced portfolio of 344 exploration and/or production licences (54% operated) between mature regions and high potential exploration zones in 16 countries with a production of 54.9 million barrel of oil equivalent (Mboe) and 836 Mboe of 2P reserves. GDF SUEZ E&P International is a production operator in Norway with the Gjøa field as well as in the Netherlands and in Germany. In the UK, the Group is also the operator of the Cygnus development, one of the biggest undeveloped gas field in the UK Continental Shelf in the last 25 years. GDF SUEZ E&P International is also partner in the major Jangkrik project in Indonesia, and co-operator in the Touat project in Algeria, both are currently in development phase.

1 This transaction is subject to the approval of the Antitrust Brazilian Authority and the approval of the National Petroleum Agency (ANP). Following the signature, the partners can exercise their pre-emption rights during a 30 day period.

About GDF SUEZ
GDF SUEZ (gdfsuez.com) develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: independent power production, liquefied natural gas, renewable energy and energy efficiency services.GDF SUEZ employs 138,200 people worldwide and achieved revenues of €82 billion in 2012. The Group is listed on the Paris, Brussels and Luxembourg stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone, Euronext Vigeo Eurozone 120, Vigeo World 120, Vigeo Europe 120 and Vigeo France 20.

Investor Relations contact:
T: +33(0)1 44 22 66 29 - E: ir[.]gdfsuez.com.

 
 
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Written by / Agency / Source: GDF SUEZ | ENGIE

 
 

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GDF SUEZ Enters Gas Exploration Licences for the First Time in Brazil

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Publisher Contact: Press Office - GDFSUEZ.com 
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