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GDF SUEZ acquires stake in Caspian Sea block

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PARIS -- GDF SUEZ has acquired a 20% stake in the exploration, development, and production sharing agreement for the Absheron offshore block in the Azerbaijani sector of the Caspian Sea. Total and the State Oil Co. of the Republic of Azerbaijan (SOCAR) each hold a 40% stake in the agreement.

"GDF SUEZ, which has opened offices in Baku, is very pleased about this operation in Azerbaijan, a major hydrocarbon producing and exporting country; it demonstrates GDF SUEZ's desire to be a long-term partner in the country and to consolidate its presence in the Caspian Sea region," says Jean-Marie Dauger, executive VP in charge of the Global Gas & LNG Business Line, GSF SUEZ.

07/02/2009

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